The Daily Mail reports that United are prepared to meet a £25million asking price to prise the Dutchman away from Inter Milan.
Ferguson is keen to bring in Sneijder as a long-term replacement for Paul Scholes, who could retire at the end of the season.
Sneijder signed a new long-term contract at Inter Milan this season, but it is believed club president Massimo Moratti could be ready to sell the Holland midfielder.