The former Manchester United defender has urged his old club to sign the Borussia Dortmund winger, who he feels is the best young player on the planet "bar none".
Ferdinand told BBC Radio 5 Live: "He is fantastic. If he does come he'll be an added value in terms of quality no doubt.
"Manchester United need top players who are going to have an effect on their first XI and I think Jadon Sancho falls into that category."
Ferdinand, who won six Premier League titles at Old Trafford, added: "If you look at successful Manchester United sides over the years, successful periods, there were players fighting for every position and if you substitute one out and you brought one in there was no change in the quality or the output."
The former England centre-back added that signing 20-year-old Englishman Sancho is a "simple" decision for Manchester United.
He told Goal.com: "If you have a chance to sign a player who has all the potential to be the best player in the world for the next ten years and has been the best teenager in the world for the last two years, go and get him, it's as simple as that.
"We have all seen how good he is now and we can only guess how could he can be at a massive club like United. You are buying him at an age where you can get ten years service out of him and if he is going to be as good as I think he will be, that has to be a good deal for United."