The Manchester United chief will retire at the end of the season, having won 49 trophies in the most successful managerial career Britain has ever known.
"It's just been a remarkable career. Everything he has touched has turned to gold," Levein said.
"I don't have any great experience of working with him. If I remember correctly, he was the manager of Scotland when I went as a young player to Israel. But what I have been very fortunate to do is meet him on a number of occasions, particularly when I was manager of Scotland.
"Everybody will talk about how successful he has been but my personal experience has been how helpful he has been to me. Nothing was a problem for him and he was always ready to give advice."
Former Hearts, Leicester and Dundee United boss Levein does not believe the game will witness another figure quite like Ferguson ever again.
He said: "The game won't allow it, the game has moved on from when Sir Alex started. It's very unusual now for a manager to remain in place at one club for any length of time.
"It's also very unusual for a manager to control the whole club. There are very few managers anywhere actually doing that now because there are so many different layers of management coming in."
Everton manager David Moyes has already emerged as one of the main contenders for the job - an appointment which would be backed by Levein.
"I would love to see David Moyes get the job. He's another guy who I have the highest admiration for. He is a real football person," he added.
"I tend to judge managers based on whether they are punching above their weight or not and I think Everton have punched above their weight for years and years. Again, I think he is a man who has principles and is an honourable guy as well. And, of course, he is Scottish."