The La Liga giants booked their place in the last-eight draw thanks to a 2-0 victory over Roma at The Bernabeu on Tuesday night which sealed a 4-0 aggregate win.
Chelsea need to overturn a 2-1 deficit against Paris Saint-Germain at Stamford Bridge on Wednesday to progress to the quarter-finals.
Arsenal are trailing 2-0 to Barcelona after a disastrous first leg at The Emirates last month.
Manchester City are the best placed of the Premier League clubs to reach the next stage following a 3-1 at Dynamo Kyiv.
However, former Manchester United defender Ferdinand believes all three Premier League sides would need to give Madrid possession and hope to exploit the Spanish side on the counter-attack.
“It becomes so much more a tactical chess game,” Ferdinand told BT Sport.
“If Chelsea play the way that they do in the Premier League with a fair bit of possession and come out against Real Madrid, they’ll get bamboozled on the counter-attack.
“If our Premier League sides allow these teams to get the ball and leave gaps behind, we’ve got players in our English teams capable of exploiting those spaces.”
Cristiano Ronaldo and James Rodriguez scored second-half goals to seal a 2-0 win for the hosts in the Spanish capital on Tuesday night.
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