Saha joined United in a £12.8million deal from Fulham in January 2004, but struggled with injuries during his time at the club.
Fergie admits Saha would still be at Old Trafford if it had not been for his injury problems.
“It is not a case of Louis Saha developing any more, it is the fact he is more consistently free of injury,” said Ferguson.
“We would not have sold him if he had been a regular performer for us.
“Unfortunately, for Louis and us he kept getting injured.
“The move to Everton has worked well for Louis.
“He is a natural finisher, as good as anyone in the league.
“He is two-footed, quick and brave, good in the air with a fantastic physique.
“He has all the boxes ticked in what you are looking for in a striker.”