French newspaper, La Provence reports that United are interested in the playmaker who has made 175 appearances for the reigning Ligue 1 champions scoring 20 goals.
The 26-year-old has also made seven appearances for the French national side since making his debut last year and scored his second international goal against England in a friendly game in November last year as the French prevailed 2-1.
All of which appears to have caught the eye of Cantona who is believed to have recommended the Marseille midfielder as an ideal replacement for ageing United veteran Paul Scholes.
The French international has also indicated that he is willing to move away from the Stade Velodrome if the right club were to come along.
"If an offer comes from a large foreign club it is hard to say no," he said.
"But now, I prefer to live in the present."
Ferguson and his charges will come face-to-face with Valbuena when the teams square off against each other in the first knockout round of the Champions League on Wednesday when United travel to Marseille.