The Manchester United manager will, however, ensure that Giggs is handed something more valuable shortly after the turn of the year - a new Old Trafford contract.
Ferguson revealed last night that Giggs, 36, and fellow veteran Paul Scholes, 35, will both be encouraged to stay at United beyond their current contracts that run out at the end of the season.
Brilliant: Ryan Giggs is set to be offered a new contract with Manchester United
With Giggs enjoying some of the best form of recent years and Scholes scoring the first goal of last weekend's convincing 4-0 win at West Ham, the ongoing value of United's longest-serving players to the Class of 2009 is abundantly clear.
Up against the likes of Jenson Button, Andy Murray, David Haye and young diver Tom Daley for the prestigious Sports Personality award, Giggs will hope his service to top-flight football is rewarded when the public votes are counted.
Ferguson said: 'If Ryan hasn't got a chance of winning Sports Personality of the Year, then what does that say? I just hope he gets the award he deserves.
'For some reason, sometimes a young sportsman or woman comes on the scene for one year and wins it. That is what Ryan has had to put up with all his life. But I think longevity should be rewarded.
'He is an example to young people because of his humility. He has never changed. And I think that he's in the best form of his career right now.
'He has retained that amazing quality in his game and also his enthusiasm to play.
'We will certainly be offering him a new contract for next season, when he'll be 37. That's what we think of him. He has been amazingly consistent.'
Giggs has played in just over half of United's matches in all competitions this season,as has Scholes.
While Giggs has already declared his intention to keep on playing, Scholes has hinted that he may not deal with irregular football as well as some of his team-mates.
The man at the top: Sir Alex Ferguson
Asked about this last night, Ferguson said: 'Scholesy seemed to be uncertain about his future? Well, we are sure.
'We will be offering him a contract, too, and he knows that. Every player who gets into his 30s starts to wonder what's going to happen to him.
'But when you see his performance at West Ham, and at Wolfsburg last Tuesday, there's no reason to think he can't do it again next season. The issue is: Can he do it all the time, play in every game?
'He may feel he should play in every match but, of course, he can't. Paul has opposition from Darren Fletcher, Michael Carrick, Anderson and now Darron Gibson. The best way to see Paul Scholes playing like he did on Tuesday night is to gauge the games in which we think he will dominate.'
With Giggs left at home in midweek to prepare for the match against Aston Villa at Old Trafford, Scholes, after consecutive starts, is certain not to begin.
Elsewhere, United's injury problems in defence continue and the scale of Ferguson'sdilemma was perhaps best illustrated when he seemed relieved that 'only' two midfield players will feature in his back four against Martin O'Neill's side.
Nemanja Vidic is fit again after a flu bug but Wes Brown, John O'Shea, Jonny Evans and Rio Ferdinand are still out, meaning that Michael Carrick will play in the centre of defence.
And Darren Fletcher, normally a midfielder, will again start at right back. Vidic's return will be crucial as United look to deal with the aerial threat posed by centre forward John Carew.
It will also be interesting to see if O'Neill tries to take maximum advantage of United's injury problems by playing striker Emile Heskey from the start.
Ferguson added: 'Villa cross the ball a lot and, if they play Carew and Heskey up front, it presents you with a formidable task. They are big lads and good in the air and Vidic is one player who can cope with that.
'The remarkable thing about what Martin has done at Villa is that he seems to pick the same team every week and that has given him consistency.
'This will be a big test for us so we are really glad that Vidic is back. I would think that Carrick will play alongside him and that Fletcher would play at right back.'
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