Despite recently distancing himself with the role, Mourinho has long been touted as a potential replacement for Ferguson when he retires.
However, legendary goalkeeper Schmeichel believes that Mourinho's confrontational style would not sit well with the board at United.
"I don't think the club would be happy with everything Mourinho brings with him," the Dane told El Mundo.
"He's a great candidate for his qualities as a manager but the club doesn't want all the things that come with him. He will not be the successor."
Schmeichel played for United for eight years from 1991 to 1999.