The Red Devils picked up a 13th Premier League title last season, just before manager Sir Alex Ferguson announced plans to retire following a 26-year reign at Old Trafford.
Following the 71-year-old's decision to step down, Everton boss David Moyes was swiftly installed as the new boss on a six-year contract.
"I think it is a challenge and as a player you always want challenges," Giggs told theFA.com. "First and foremost, there are great players there and we have just won the league, so everything is in place for it to carry it on."
Meanwhile, the former Wales international has claimed that he is unsure of what path he will take when he decides to retire from playing.