Many Reds supporters are furious at the idea of the Premier League being voided due to the COVID-19 outbreak.
Liverpool were a couple of games away from winning the title before the league was suspended. But Ferdinand thinks public health trumps titles.
The United legend told BT Sport: "Times like this do push it home how important sport, contact and communication is when you are isolated and alone with your immediate family.
"But we have to take into consideration football is just a game. As seriously as we all take it, the bigger picture is what is going on out in society.
"I'm sure in my own mind that if it's not going to be an immediate fix in the next few weeks then the season needs to be voided and started again next season afresh.
"Listen, if my team was in that situation I would think about people's health and the wider society rather than my own gain.
"And this is a situation where I think exactly the same no matter who's going to go up, who's potentially going to go down, who could have won the league and who could have finished in the Champions League positions."
He went on to say: "I think across the board, it's much more clearer, black and white, and just void the season and start again afresh.
"And there are going to be people disappointed, and there are going to be people that are probably more satisfied with that.
"But whichever way you go you're going to be disappointing people and there's going to be people that are more happy with the situation when you do it.
"So not everyone can win in this situation and that's just a fact."