The former Crystal Palace boss comes up against his Scottish counterpart in the fourth round of the FA Cup, as Moyes celebrates his 500th match in charge at Goodison Park.
Freedman admits that it would be tough for anyone to replicate the job that Moyes has done on Merseyside.
Freedman told BBC Radio Manchester: "What David's done at Everton is huge.
"You look at what managers have done in the past and you try and do better than that, but that's not an easy job. David's done very well, even when he was at Preston.
"I think many young managers will look at him and try to do what he's done. To many young managers, David Moyes is an inspiration."
Freedman will be looking for his second Premier League scalp on Saturday after his side beat Sunderland in the third round.