The ex-Norway international led Molde to their first championship at the weekend after taking the helm in January following a successful stint as reserve team coach at United, the club he was playing for when he retired in 2007.
British newspapers have speculated Solskjaer could one day return to United when 69-year-old Ferguson eventually retires - not that the Scot is showing any intention of that just days before he marks 25 years in the Old Trafford hot seat.
"It's a great achievement considering it's his first year," Ferguson told a news conference.
"He had a good spell with us with the reserve team, so he was not going into the job blind."
Asked if he saw Solskjaer ever managing in England, Ferguson replied: "It's possible, it depends when. I don't think he should rush into that because experience is good and the experience he's got at Molde is a very good one.
"He comes from the area (Molde), his wife and family are all back home there, he's won the championship, there's no need to hurry with that, time will come, the timing will be important for him."
He added the former "baby-faced assassin" had been an attentive student of the game while at United, for whom he scored 126 goals after joining them in 1996.
"It's quite clear that every game he played for us, every training session he took part in he always wrote it all down, so that tells you of his dedication to learn the game," he said.
"The meticulous detail going into that, that gives him a great start in terms of real concentration and sacrifice for the job because you need that going into management these days."
If anyone knows what it takes, it is Ferguson who on Sunday celebrates a quarter of a century at United - the club he has led to 12 league titles, two European Cups and five FA Cups.
"I've not really reflected on it," he replied when asked about the milestone.
"All I can say is I'm looking forward to the next 25 years."
