Scholes came out of retirement for the Premier League champions in January and has been a key factor in their rise to the top of the table.
The former England international has also impressed Ferdinand, who concedes that Scholes will not be rushed into making a decision regarding his future.
Ferdinand said: "It would be nice if he could play another season.
"With Scholesy, though, you know it doesn't make a difference what anybody else says. He's his own man and he'll make his own decision.
"He was out of the game for months and yet he's come straight back into top-level football and he's hardly looked out of place. At this stage of his career, that's phenomenal."
Ferdinand and Scholes are both expected to play some part in Monday's Manchester derby.