The Foxes, favourites for relegation at the start of the season, are five points clear at the top with just seven games left to play.
It would be one of the most unbelievable upsets in football history if Claudio Ranieri’s side were to go on and lift the league trophy.
But Ferguson sees no signs of the pressure getting to the Leicester players and he expects them to get over the line.
The legendary former Manchester United boss, speaking to Sky Sports, said: “Leicester have got the bit between their teeth, they’ve been the best team without question throughout the season and they deserve to win it.
“You would think their inexperience would count, but Leicester have unbelievable energy and togetherness that suggests they’re going to see it through.
“For instance, they’ve won their last few games 1-0. I had a season at United where we had eight 1-0 victories and that won us the league.
“Those 1-0s are really important because it points out to me that they are a unit, they’re not going to lose.
“They have a determination about them and they are not afraid of the situation they find themselves in, which is important.
“I don’t see any nerves and that’s down to the manager, he’s brought a calming influence. It’s fantastic, they are a breath of fresh air and it’s great for the game.”
Ferguson, who led United to 13 top-flight titles during his glittering Old Trafford career, believes only Tottenham are a danger to Leicester’s title hopes.
Spurs are currently five points behind the leaders ahead of their trip to Liverpoon on Saturday.
“I only see Tottenham being a danger to Leicester,” said Ferguson.
“Tottenham, at the moment, are playing some of the best football I’ve seen from a Spurs team in many years. But Leicester have got the edge. I think they’ll get there.”