The defensive duo will become free agents if they do not agree terms over the next couple of months, and Giggs, who used both players in the victory over Norwich City last Saturday, believes that they still have plenty to offer the club.
"I do believe they still have a part to play," Giggs told reporters. "Both their contracts are up but they have both given massive service to the club.
"They are both fit and they both looked good last week. I don't see why not.
"It is a group discussion but I still think they have a lot to offer. They have been great players and they remain assets to a club like Manchester United."
Ferdinand and Evra are both expected to be involved against Sunderland on Saturday afternoon.