Neville was announced as the new manager of the La Liga giants on Wednesday and will take over from Sunday, following the clash at Barcelona.
It marks Neville's first foray into management, after diving into punditry and coaching roles following his retirement from Manchester United.
His former boss Ferguson believes that the 40-year-old has shown all the attributes to become a success in management.
He believes that the knowledge that he has shown while on Sky Sports, coupled with the mentality he had as a player, indicate that he is only going to do well.
Winning mentality: The Neville brothers enjoyed significant success under FergusonSpeaking to Sky Sports, he said: "Gary has many attributes that suggest he will be successful in management. His leadership skills are strong, he's honest and he's hard working.
"He is the type of character who is not afraid of making big decisions, which is a vital skill when leading. I think he'll do well and I wish him, and his brother Phil, good luck."
Neville will officially speak to the media for the first time on Thursday afternoon, before flying back to the United Kingdom where he is expected to attend Salford City's FA Cup clash with Hartlepool.
He will then return to Spain to watch the game against Barcelona, for which his brother Phil is still expected to be in charge.
Valencia fans have given their backing to the appointment of Neville.
A poll on leading Valencia newspaper website SuperDeporte has Neville with a 67% approval rating after the first 1200 votes, a good start considering the current unhappiness surrounding the club.
In pictures - Gary Neville's coaching career:
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Equally, the 40-year-old will need to be aware that this is one of the most fickle and demanding fanbases in La Liga.
Nevilles reputation in Spain is forged virtually entirely on his career in the red shirt of Manchester United, with nobody on the Iberian peninsula particularly aware of the innovative punditry work with Sky Sports that has seen his stock soar in the UK.
http://www.mirror.co.uk/sport/football/news/sir-alex-ferguson-tips-gary-6942715
