Hargreaves made his return for the United reserves on Thursday and Fergie believes the midfielder could play an important role in the end of season run-in.
“It’s a boost to the boy,” the United boss told Sky Sports News.
“When you are out for a year-and-a-half, it’s a long way back. We experienced that with Gary Neville, with the difference being that Owen is younger than Gary.
“We expected the recovery to be quicker, but I think he will need a couple of games for the reserves and then he will be ready for the first team.
“We should have him for the end of the season. He is like a signing, bringing him into the group at this stage of the season.”