Ferguson guided the Dons to European Cup Winners' Cup glory in 1983, beating Real Madrid 2-1 in the final in Gothenburg.
He also oversaw three league titles, four Scottish Cups and one Scottish League Cup during his eight-year stint at the club between 1978 and 1986.
Aberdeen announced on Thursday they had commissioned a bronze Ferguson statue, located on the external concourse outside the Richard Donald Stand at Pittodrie, which is expected to be unveiled later this year.
"I am thrilled and honoured by this recognition from Aberdeen Football Club, where I spent a fantastic and memorable part of my managerial career," Ferguson said.
"I am particularly pleased with the image the club has chosen to base the statue on and with the choice of sculptor whose recent work is incredibly lifelike. I can't wait to see it!"
Produced by sculptor Andy Edwards, the statue will be based on a photograph of Ferguson taken after Aberdeen secured the Scottish title at Easter Road in 1980.
Rangers were on course for a deserved victory that would have breathed life into the title race, but the away side nabbed a crucial leveller right near the end.
Daizen Maeda had initially given Celtic an early lead, but Rangers soon established dominance and were good value for their lead following a quickfire double from Ryan Kent and James Tavernier early in the second half.
But when Rangers appeared to be cruising to a potentially vital victory, Kyogo emphatically finished from close range to stun the home crowd and salvage a point.
Had it not been for a defensive error, Rangers would not have trailed in the first place.
Alfredo Morelos' blind pass into the middle was seized upon by Maeda, who rode Tavernier's feeble challenge and skipped past Connor Goldson before slotting home.
Morelos then forced a Joe Hart error that led to Kent hitting the post from the edge of the box, seemingly jolting Rangers into life.
They finished the half with a hat-trick of Morelos chances, and their positivity paid off early in the second period as Kent curled a fine finish into the top-right corner.
Fashion Sakala, who also played a role for the equaliser, then lured Carl Starfelt into a clumsy foul in the box, and Tavernier converted the spot-kick.
It was not enough to clinch victory, though.
The ball fell kindly for Furuhashi after a scrappy passage late on, and he smashed home the goal many will feel ends the Gers' title hopes.
Rangers were on course for a deserved victory that would have breathed life into the title race, but the away side nabbed a crucial leveller right near the end.
Daizen Maeda had initially given Celtic an early lead, but Rangers soon established dominance and were good value for their lead following a quickfire double from Ryan Kent and James Tavernier early in the second half.
But when Rangers appeared to be cruising to a potentially vital victory, Kyogo emphatically finished from close range to stun the home crowd and salvage a point.
Hagi scored one goal in seven Premiership appearances for the Gers after joining the club in January and was described by manager Steven Gerrard as "a pleasure to coach".
The 21-year-old, who has been capped 10 times by Romania, also featured in three Europa League games during his loan spell at Ibrox, memorably scoring a brace in a 3-2 victory over Braga in February.
Hagi told the club's official website: "I am excited about re-joining the squad for pre-season and putting on the famous shirt once again.
"There was interest from other clubs, but my priority was always to return to Glasgow and play for Rangers.
"I really enjoyed my loan spell at Ibrox and look forward to playing in front of our fans very soon, but for now I hope all of the Rangers fans and your families are staying safe and well."
Hagi, the son of Romania great Gheorghe Hagi, had only moved to Genk from Viitorul Constanta last year.
His next league appearance for Rangers will not come until the 2020-21 season, with 2019-20 having been declared over this month, with Celtic confirmed as champions.
The England winger has only made three Premier League starts this season.
Sterling, who starred during England's run to the Euro 2020 final, could now be on the move.
TOP STORY – BARCA RESOLUTE ON RAHEEM
Barcelona are determined to sign Raheem Sterling from Manchester City despite the Premier League club's refusal to let him leave, reports Manchester Evening News.
The Catalans want to bring Sterling to Camp Nou in January on a loan deal, with the forward open to a move after losing his regular starting spot at City.
Sterling still has 18 months remaining on his City contract and the English champions have no intention of accepting an offer for him.
ROUND-UP
- Manchester City are set to launch a new bid for Tottenham forward Harry Kane in January, claims ESPN. City pursued Kane over the off-season but the Spurs skipper ultimately remained in London after Tottenham declined their approaches.
- El Nacional reports Real Madrid head coach Carlo Ancelotti has told the club to sell or release Gareth Bale. The Wales forward has only made three appearances this term and is contracted to Los Blancos only until the end of the season.
- Hakim Ziyech is unhappy at Chelsea and could be lured to Borussia Dortmund, claims The Mirror. The Morocco winger could move in January, having been unable to re-discover his best form at Chelsea after moving from Ajax in 2020.
- Norwich City are set to offer ex-Aston Villa boss Dean Smith their vacant manager role, according to Sky Sports. Smith was sacked as Villa coach this week.
- The Daily Record claims former Feyenoord coach Giovanni van Bronckhorst will hold talks with Rangers about taking over as manager after Steven Gerrard's departure for Villa.
Bale has said he intends to return to Madrid for the final year of his contract.
Spurs' interest in keeping the Wales star beyond this season is not clear as they are in the market for a new head coach after Jose Mourinho's dismissal.
TOP STORY – NEW SPURS BOSS TO DECIDE ON BALE
The Daily Mail reports that Tottenhamchairman Daniel Levy will let the club's new head coach decide whether or not to re-sign Bale.
The option remains for a second loan deal for the Welshman to re-join Spurs from Madrid next season.
Spurs have first option on a second loan but they would require Bale's agreement, although he appears out of favour in Madrid.
Triggering the clause will cost Tottenham £12million.
ROUND-UP
- Borussia Dortmund's asking price for Jadon Sancho is down to £87m (€100m) according to ESPN, which may interest Manchester United and Liverpool. Dortmund previously demanded more than £100m (€115m) for the England midfielder.
- Arsenalare interested in signing Rangers midfielder Glen Kamara, with a five-year deal on the table, according to Football Insider.
- The Athletic claims Brentford striker Ivan Toney is drawing interest from Leicester City and Evertonas well as a "host of clubs" preparing bids for his services.
- Newcastle United are considering a move for Vitesse defender Danilho Doekhi, reports De Telegraaf.
- Bayer Leverkusenare in the mix to sign Santos' teenage forward Kaio Jorge, claims Kicker.
The Napoli striker is valued at around €80million by the Serie A leaders.
Manchester United are understood to be interested in Osimhen.
TOP STORY – REAL TO RIVAL MAN UTD FOR OSIMHEN
The race for Napoli forward Osimhen is heating up with Real Madrid joining United in pursuit of his signature, according to Calciomercato.
Osimhen's Napoli contract does not expire until 2025 but both clubs are ready to flex their muscles and move for him in the off-season transfer window.
The 23-year-old forward's stock has risen dramatically since Napoli signed him for €70m from Lille in 2020.
ROUND-UP
- Inter are lining up a move for Borussia Monchengladbach's Marcus Thuram as they prepare for Lautaro Martinez to be prized away amid interest from Manchester City, claims The Sun.
- Nicolo Schira claims that Milan have agreed personal terms with Lille defender and Newcastle United target Sven Botman, who has been lured by a five-year deal.
- Barcelona are set to join the race for Wolves midfielder Ruben Neves, who has interest from Arsenal and Manchester United, reports the Mail.
- The Express claims that Aston Villa are interested in manager Steven Gerrard's ex-Liverpool team-mate Luis Suarez along with Milan's Franck Kessie .
- Teenage England international Jude Bellingham has opted to remain with Borussia Dortmund for one more season, claims Bild.
- Kicker claims that Roma have joined the pursuit for Stuttgart's Sasa Kalajdzic along with Tottenham, West Ham, Bayern Munich and RB Leipzig .
- West Ham are interested in Bristol City striker Antoine Semenyo, according to The Mirror, while Celtic are also tracking him.
