The former England captain officially signed for the R's last week on a one-year deal, after being released in the close season by the Red Devils.
The veteran centre-back left Old Trafford after a glittering 12 years, which included the 2008 Champions League amongst six Premier Leagues, two League Cups and the 2004 FA Cup.
And Morgan, who himself won the 1967 League Cup with the Londoners, thinks Ferdinand's pedigree speaks for itself, and feels the deal will prove to be an inspired one by boss Harry Redknapp.
The Daily Star quotes Morgan as saying: “Rio is a fantastic signing for a year because his experience at the back is second to none. He is also a very good bargain buy as they have got him on a free transfer.
“Rio was on phenomenal wages at Manchester United, but for him to come to QPR, when he probably could have gone to other clubs and taken more money, is a massive coup.
“He wants to play in the Premier League and work with Harry – as, of course, it was Harry that brought him through at West Ham.
“You want players that want to play and Rio wants to continue playing in the Premier League and prove that he can still cut it at the top-level.”
Ferdinand's departure at Old Trafford coincides with Nemanja Vidic's exit, and new boss Louis van Gaal is likely to delve into the transfer market to recruit at least one top-class centre-back before the transfer window closes.
Borussia Dortmund's Mats Hummels has been linked with a £16 million switch, although long-term target Ezequiel Garay joined Zenit St Petersburg earlier this summer.
Menawhile QPR look set to offload Loic Remy, with Liverpool close to completing a deal worth around £8.5 million, while Steven Caulker joined from Cardiff City following the extension of Ravel Morrison's loan stay.