Lingard scored England's third of a 6-1 rout with a fantastic long-range curling effort that gave goalkeeper Jaime Penedo no chance in the Canalero net.
And, while Harry Kane's hat-trick dominated the headlines after the final whistle, Ferdinand focused on the United winger's talents.
"The whole of England's play here is what you want to see from us, patience and confidence and everyone showing for the ball," Ferdinand told the BBC after the game.
"With the finish, this is where Jess is unbelievable - this finish was exquisite. I have seen this from this boy since he was 11 years old at Manchester United.
"People always questioned, 'is he going to be big enough, is he going to be strong enough', but when you have the intelligence and game management that this kid's got, you can be two foot tall and get through."
Ferdinand added that Lingard's goal would go down in England history as one of the finest ever netted by a Three Lions player at the World Cup.
"Jesse is that intelligent, he is that good, he understands the game, and when he gets in like this, although we didn't see it the other day when he wasn't clinical, we all said that when he gets the chances again he will put them away, and he certainly did," he said.
"That finish there - a generation of kids will remember that goal."