The manager's time at the club has been permanently commemorated with a ceremony involving players from Manchester United's past and present.
The ceremony was attended by Red Devils players past and present, with the 70-year-old also receiving video tributes from the likes of Sepp Blatter, David Beckham, Cristiano Ronaldo and Tony Blair.
An estimated 2,500 supporters also turned up to see former players such as Eric Cantona, Ole Gunnar Solskjaer, Denis Law, Sir Bobby Charlton, Gary and Phil Neville, Dennis Irwin, Andy Cole, Dwight Yorke and former goalkeepers Peter Schmeichel and Edwin van der Sar, among others, while the event was compered by well-known United fan Eamonn Holmes.
Chief executive David Gill also made a speech, stating that the legendary manager brought respect back to the club, while Ronaldo congratulated his former boss in a video message, stating that he "100 percent deserves" the recognition.
Asked who he would like to unveil the statue, Sir Alex joked that singer Elvis Presley would have been his choice but that he could not be there. However, he selected his wife, Lady Cathy Ferguson, to complete the unveiling.
The boss, who has already had a stand at Old Trafford named after him, told MUTV: "It's a proud moment. Normally people die before people see their statue. I'm outliving death!"