The Scotsman was formally presented with the freedom of the Borough of Trafford as well as having Waters Reach renamed Sir Alex Ferguson Way.
"It encapsulates probably the last 26 years - coming to the great club, the history of it. It's been an incredible journey for me, ending today for me to unveil this road sign," said the 71-year-old.
"I'm really proud of that and I'm proud of everyone who has been associated with the club. I'd like to thank Manchester United for inviting me down here, 26 years ago. It was a fantastic elevation in my life and a challenge I accepted. And we are where we are now.
"It's a great, great football club. You, the supporters, have enjoyed it. And I still think that a lot of our young fans don't remember that there were bad days. Dealing with bad days is what we're good at. This club will always go on."
Ferguson guided the club to their 13th Premier League title last season before bowing out.