Henrik Larsson struck home in the second-half to lead United to a 1-0 home victory over Lille and a place in the quarter-finals with a 2-0 aggregate score.

Ferguson insisted his team possess the quality required to reach the top, underlining the importance of the achievement.

"It’s an area in which English teams are getting better. I think we have got the quality in our squad to go all the way," Ferguson told the club's official site.

"I think being there is important, we have had two bad years in terms of not qualifying for the quarter final stage, whereas before that we had an excellent record."

Ferguson stressed that despite booking the last-eight place, his ambitions are far beyond that level, claiming that there are no significant gaps in terms of quality between the teams taking part in the campaign.

"But the last eight is not our aim. We want to go as far as we can and reach the final. I look at the possible opponents and no matter which team we get, it’s a big game."

"I don’t think there is a lot between the teams that are left in the competition and I think we have as good a chance as anyone."

The Scottish tactician highlighted the important role played by his defense to maintain the club's good form and continue their progress in the competition.

"I was really pleased with the performance tonight, especially defensively," he added. "That has been the key to our results lately.

"And it gets tighter the further you go in this competition when it is all down to tactics and the details of planning for games."

Ferguson paid tribute to Swedish on-loan striker Larsson, who scored the winner in his last match with the Red Devils.

"It was a great header," Ferguson told Sky Sports.

"He has been a credit to himself. His dedication to his job has never changed and it has been a real joy to have him.

"I'd do anything to keep him but he has promised Helsingborgs and his family and you have to respect that."