The legendary duo won 16 Premier League titles between them while developing a fierce rivalry over the years when managing their respective clubs, Manchester and Arsenal.
They are also the first to be inducted as part of the ‘Class of 2023’.
Ferguson, 81, is the most successful manager in Premier League history and has won a record 13 titles – including winning the title for an unprecedented three seasons in a row on two separate occasions – before retiring in 2013.
After arriving at Old Trafford in 1986, Ferguson helped turn the club back into one of English football’s juggernauts and went on to dethrone Liverpool as the club with the most top-flight English league titles.
Ferguson also won the inaugural Premier League title in the 1992-93 campaign and he would manage some of the game’s best players during his incredible 27-year spell as Red Devils manager.
Renowned for his brilliant leadership skills and ability to rebuild title-winning teams time and time again, Ferguson’s all-time Premier League record stands at 528 wins from 810 matches and 1,752 points accumulated.
He was named manager of the season 11 times and collected the Manager of the Month award on 27 occasions.
Ferguson said: ‘I’m truly delighted to be inducted into the Premier League Hall of Fame. It’s an honour when you receive recognition like this.
‘However, it’s not just about me as a person. It’s about the job at Manchester United and the bond we had over many years, so I’m also proud for the club, the staff and my players.
‘My job was to send the fans home happy. United’s history and my own expectations were the things that drove me, and I then had to try and develop all my players with the same expectations and make sure we could go out and achieve them.
‘I feel Arsene is a very worthy inductee as he transformed Arsenal Football Club fantastically. They became a tough team to compete with and we both wanted to win, which motivated us further.
‘Through the years since retirement, we’d go for dinner together in a little restaurant he knows well in Switzerland. He is a really interesting man and I enjoy his company, but it is still my job to pick the wine!’
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