UEFA president Michel Platini announced that the former Manchester United manager will work for the European governing body following an executive committee meeting in Nyon, Switzerland, on Friday.
Ferguson, regarded as one of the most successful managers of all time, retired as United boss in May after winning his 13th league title with the club.
Platini told a news conference: "Sir Alex will be chairman of the forum of elite coaches that meet every year. He wil also be a member of the technical study group of the Champions League and the European Championship."
Ferguson said: "It is an honour and a privilege to accept this role as ambassador for UEFA."