Wenger became the longest-serving manager in the club’s history on Thursday and Fergie believes the Frenchman has done a ‘fantastic’ job, during his 13 years in north London.
“Arsene has brought the best out of Arsenal,” he said.
“Since he has gone there, the success of the club has been fantastic.
“He sticks to what he believes in – and so do his players.
“That is why he has been there so long. I read some quotes from his players the other day that sum up the situation pretty well. They owe everything to him. That is nice to read.”
Ferguson has been in charge of Manchester United for 23 years.
“If you look at Brian Clough, myself and Arsene, it proves longevity brings rewards,” said Ferguson. “His team play the right way and he has a stadium that is full every week.
“He has been an incredible manager for that football club. There is no question about that.”