Cantwell gave Rangers an early lead and was the best player on the pitch as the Glasgow giants beat Celtic 3-0 at Ibrox on Saturday.
It was Rangers’ first win over Celtic this season and Beale’s first victory as Gers manager over their Glasgow rivals in five attempts.
Cantwell was the star of the show and deservedly earned the Man of the Match award for his performance in the derby.
Ferguson was happy to see the midfielder finally do all his talking with his feet against Celtic in the big game and believes he is going to be a massive player for Beale and Rangers going forward.
The Rangers legend also pointed out the intensity with which Cantwell played and the direct attacking threat he brought to the team.
The former Rangers captain said on the Go Radio Football Show: “He was the best player, no doubt about it.
“Certainly the two signings that Michael Beale has made in January have certainly improved Rangers.
“That’s what you want to see from Todd Cantwell, do his talking with his feet and he certainly did that on Saturday.
“Throughout the game his energy levels were exceptional and on the ball, he was really good and really direct.
“He has shown that going forward he is going to be such an important player for Michael Beale.”
Cantwell has wasted little time in establishing himself as one of the starters at Rangers since joining the club in January.