The United boss claims Teddy played a leading role in United's 1999 treble triumph and the title successes of the last two seasons.
It was Teddy who scored the equaliser in the Champions League Final on that never to be forgotten night in Barcelona against Bayern Munich.
Last season he was United's top scorer with 21 goals and carried off the Football Writers' and Players Footballer of the Year awards.
To Sir Alex's disappointment he quit Old Trafford in the summer to return to Tottenham, but the United manager will never forget the striker's contribution during his four years at United.
"He did a great job for us," said Sir Alex.
"Last season was terrific for him and he played a great part in our success during the four years he was with us."
Despite Sir Alex's disappointment at losing Sheringham, he understands his reasons for returning to the capital.
He has followed Sheringham's progress this season and he has been delighted by his early successes with us.
"He's revelling in the role of captain and he's been playing exceptionally well for them," he added. "I watched the game against Sunderland and I thought he was great.
"It was a good move for Teddy at this stage of his career regarding his own situation and wanting to be in London to be near his son."
Sir Alex Ferguson has praised Teddy Sheringham for his part in Manchester United's success story ahead of their reunion at the Lane.