Ferdinand was recently named in the PFA Team of the Year for the first time since 2009, alongside team-mates Robin van Persie, Michael Carrick, and David de Gea.
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And after overcoming several injuries over recent years to start more league games than any of United's other centre-backs this season, Sir Alex believes this has helped him along to his best ever season.
The Scot told MUTV: "Rio Ferdinand has had his best season at the club.
"We have had continual problems with the centre-backs being fit. Nemanja Vidic has missed half a season, Chris Smalling has missed most of the season, Phil Jones missed a good bit and Jonny Evans missed parts but Rio has managed his situation very well.
"Although we have left him out of certain games because we have managed him the right way, at the most important times he has been there."
Despite such praise from his boss, the veteran defender's five-year contract - signed in 2008 - expires in the summer.
Yet Sir Alex sees little issue, with all the signs currently pointing towards Ferdinand staying for at least another year.
"I don't think there is any reason to think differently," he added. "I hope he will stay and I think he will too."