A road near Old Trafford was officially renamed ‘Sir Alex Ferguson Way’ on the day the former Manchester United manager was granted the freedom of the local borough.
Trafford Council announced last month that Ferguson, who retired in May after 26 years as manager of United, would be recognised for his achievements at the club.
And he became a Freeman of Trafford in a ceremony at the Town Hall on Monday before going to Waters Reach where he unveiled the sign confirming its change of name.
Ferguson said: "It's a privilege and an honour to have a road named after me. You don't expect these things in life.
"It encapsulates probably the last 26 years -- coming to the great club, the history of it. It's been an incredible journey for me, ending today for me to unveil this road sign: Sir Alex Ferguson Way.
"I'm really proud of that and I'm proud of everyone who has been associated with the club.
"I'd like to thank Manchester United for inviting me down here, 26 years ago. It was a fantastic elevation in my life and a challenge that I accepted. And we are where we are now.
"It's a great, great football club. You, the supporters, have enjoyed it. And I still think that a lot of our young fans don't remember that there were bad days. Dealing with bad days is what we're good at. This club will always go on.
"We've got a fantastic set-up, great staff, wonderful people and there's only one way and that's up for Manchester United.
"I thank everybody for being here -- all my friends, all my family and my wife, the boss. She picked all the winning teams, by the way.
"Thanks for coming here, Thanks for the mayor and Trafford Borough for this fantastic honour and the day we've had today at the Town Hall. It's been absolutely brilliant."
The 71-year-old had already been granted the Freedom of the City of Aberdeen while he becomes the second United manager, after Sir Matt Busby, to have a street close to the ground named in his honour.
Ferguson, who joined United in 1986, won 38 trophies, including 13 league titles and two Champions Leagues, during his stay at the club.