For the first time since 1999, more teams from the Bundesliga made it out of the initial group stage of the Champions League than their English counterparts.
With Bayern Munich, Schalke and Borussia Dortmund all seeded for this morning's knockout round draw, they are well placed to make deep inroads in the competition.
So, with cheap ticket prices fuelling a soccer boom in the country, Ferguson believes they offer a genuine challenge to England's position.
"The Premier League is still the most exciting in Europe," Ferguson told www.eurosport.com.
"The great thing about our league is that anyone can beat you.
"It has always had that great quality and in general it is 100 per cent commitment, which the supporters recognise.
"But Germany is very successful at the moment also. The crowds there are fantastic and it is very cheap in relation to English football, which encourages supporter participation.
"The stadiums are great and the games are good quality with a lot of goals.
"Germany is creeping up but ours is still the most exciting."