The 39-year-old’s contract is set to expire in the summer, with the former Wales international expected to finally call time on a glittering career.
However, Ferguson is pleased with Giggs’ fitness and the Red Devils manager believes the 12-time Premier League winner can continue for another season in the top flight.
“He will play for another year,” Ferguson told United’s website.
“There are no discerning signs of tiredness or weakness in his game, his quality is still there and he has fantastic balance.
“He has the appetite for it and he is just an incredible human being.”
Giggs helped United to a 1-0 victory over West Ham United in the FA Cup third-round replay on Wednesday night, producing an impressive display in a weakened Red Devils side.
When asked about extending his career for another season, Giggs was rather more coy about his future than Ferguson.
“I don’t feel like that now!” he added.
“I’m enjoying it more than ever at the moment, though. The FA Cup at Old Trafford… if you don’t enjoy it you need to pack it in.”
Giggs has scored 165 goals in 925 appearances for United after making his league debut against Everton in 1991.