Sergio Aguero gave the Citizens a 15th-minute lead with an emphatic finish from close range in Kyiv.
Spain international David Silva extended the visitors’s lead with a clinical finish after impressive work from Raheem Sterling.
The hosts did get a foothold in the game in the second half when Vitaliy Buyalskiy’s shot was deflected past Joe Hart by Nicolas Otamendi.
However, Yaya Toure sealed a 3-1 win in the 89th minute as City became the first Premier League club to win a first leg of a last-16 tie on the road since 2012.
And Ferdinand enjoyed watching some “top-class moments” from City during their impressive away win.
“Job very well done by Man City,” Ferdinand told BT Sport.
“A couple of nervy moments after the Dynamo goal.
“But some top-class moments including the two goals. Especially Yaya’s fantastic finish with his left foot.”
The Citizens will switch their focus to their League Cup final on Sunday when Pellegrini’s side face Liverpool at Wembley.
City lost 4-1 at home to the Reds in the Premier League earlier this season.
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