"David is always tough to play against," said Murray. "He's number five in the world.
"He has a great attitude. He fights well, right until the end in every single match. It's definitely a match where if I want to win, I'm going to have to play very well."
Ferrer, who was knocked out by Murray in the semi-finals of last week's Japan Open, was similarly complimentary about his opponent.
"Andy is playing amazing," he said.
"I know every week is different. But tomorrow (Sunday) I need to improve my game to win against Andy. He's a top player, and I need to play my best tennis."
A win for Murray will see him leapfrog Roger Federer into third place in the ATP world rankings.