Twenty-five-year-old Drenthe joined the Toffees on a season-long loan basis from Spanish champions Real Madrid in the summer of 2011.
However, a number of controversies off the pitch resulted in Moyes ending the agreement a month earlier than had been originally planned.
Despite the fact that it didn't work out at Goodison Park, Drenthe has insisted that he will always be in debt to his former Scottish boss.
"It was David Moyes who has opened my eyes. I can only say that Moyes was right in every way. I was not living like a professional player in Liverpool," he told reporters.
"I can try and come up with all sorts of excuses, but that is not fair on anyone. I look in the mirror and I have to admit that I had to stop living the way I did. All players love to go out and hit the town. But I had no discipline at all. I hit rock bottom.
"I was close to ending up on the street again where I once was before I became a footballer. I am fighting for my last chance in life and in football. I have just lost a stone in weight."
The Dutch international went on to add that he was disappointed in himself for blowing his chance on Merseyside.
"I was living in a different world," he said. "I realise I have ruined it all myself. I used to confront David Moyes, thinking I had the right to talk to him like that. But in hindsight, he was so right about me most times.
"Now I can't believe I blew it at Everton. It is one of the most fantastic clubs in the Premier League. My attitude and poor mentality are the reasons I ruined my career there."
Drenthe now plays for Russian side Alania Vladikavkaz.