Barcelona won the Champions League after beating Manchester United 3-1 in the final at Wembley.
“We were beaten, there is no other way to address the situation, by the best team,” he told ITV.
“I expected us to do better but at the end of the day we were beaten by the better team. They are the best team we have ever played, they are at the peak in this cycle of their team.
“There was good evidence we are a consistently good European team but we were beaten by the best team in Europe and there is no shame in that. Sometimes you come up against a far better team and tonight was one of those nights.”
Ferguson admitted he was disappinted by United’s performance in the game.
“We expected to do better, simple as that,” he said.
“We have had a great season in many ways, it is just disappointing that we have been to Wembley twice and been beaten. We are just disappointed it has ended on this note.”
Barcelona lifted the European Cup for the fourth time after goals from Pedro, Lionel Messi and David Villa.
England international Wayne Rooney had earlier equalised for Manchester United in a thrilling match in London on Saturday evening.
