Manchester United striker Rooney and Ferguson were team-mates at Goodison Park in the early part of the last decade before the former left his boyhood club for Old Trafford in 2004.
Ferguson's time with the Toffees will be remembered in a testimonial friendly against Villarreal on August 2 and Rooney, currently out in the United States on United's pre-season tour, will turn out to honour his "hero".
"As a young lad growing up in Croxteth, Duncan Ferguson was a hero of mine.
"As a young player at the club he was an inspiration and when I broke into the first team he helped and looked after me.
"I cannot think of a better way to thank Dunc for all he did for me than turning out in his fully deserved testimonial match. Had he not asked me to play I would have gone and supported him on the day as I am sure most other Evertonians will."
In the past Rooney has been subjected to less-than-favourable receptions when returning to Goodison Park as a United player, even kissing his current club's badge in front of Everton supporters in 2008.
However, the hostility has subsided somewhat in recent years and Ferguson spoke of his delight at having Rooney on board for the friendly.
"I'm absolutely delighted that the wee man has agreed to play in the game," added Ferguson, who has not ruled out playing in the contest himself.
"Everybody knows that we go way back. I knew him as a kid, he's a top man and I'm proud as his friend that he's fulfilled the potential we always knew was there.
"Wayne's a world-class player and I'm genuinely thrilled that he will play on the day, just as I'm so grateful to the club for putting on this game."
THE TOON'S GREATEST 100 PLAYERS ... EVER!
This book is a collection of the 100 Greatest Newcastle United players of all time, as voted for by NewcastleUtd-Mad.co.uk readers and a panel of journalists who contribute to the website. The players are in an order of five-per-chapter, counting down from 100 to Newcastle United's greatest ever player (as viewed by the author), but the whole point of the book is for YOU (the reader) to decide who goes where. The list is not, by any means, definitive. As with all books of this nature, whether it be "Greatest Albums"; "Best Movies Of All Time"; or "Top 100 Pin-Ups Of The Year" ... no two people have exactly the same opinion. There will be controversy over who is on the list, and chances are, more controversy over who is not. Here are the best of the best. I have painted the picture with each player's profile. Where they end up in the league of NUFC's Greatest is up to you. Because YOU have the final word.
Otherwise ... if you want a signed copy (for a birthday, etc) for £9.95 and no postage ... you can meet me before a match and I will bring a copy along.
Get in touch: Kevnumad@fsmail.net
NEWCASTLE UNITED
Fri 10th July (8pm BST)
Gateshead FC 0 Newcastle Utd 1 (Cisse pen)
(First half): Darlow, Janmaat, Haidara, Lascelles, Williamson, Anita, Colback, Gouffran, Cisse, Sissoko, De Jong. (Second half): Woodman, Bigirimana, Satka, Good, Ferguson, Tiote, Obertan, Aarons, Perez, Armstrong, Riviere.
Tue 14th July (8pm CT)
Club Atlas (MEX) 2 Newcastle Utd 1 (Sissoko)
Krul (Darlow 46); Janmaat (Bigirimana 72), Williamson, Lascelles, Haidara (Ferguson 72); Anita, Colback; Sissoko (Obertan 72), de Jong (Perez 72), Gouffran (Aarons 72); Cisse (Armstrong 72).
Sat 18th July (8pm UTC)
Sacramento Republic FC (USA) 0 Newcastle Utd 1 (og)
Krul (Woodman 46), Janmaat, Williamson, Lascelles (Taylor 46), Haïdara, Anita, Colback, Sissoko, Obertan (Aarons 69), de Jong (Perez 69), Cissé (Wijnaldum 69).
Tue 21st July (7.30pm UTC)
Portland Timbers (USA) at Providence Park, Portland (USA)
Sun 26th July (1pm BST)
Sheffield United at Bramall Lane
Wed 29th July (7.45pm BST)
York City at Bootham Crescent
Sat 1st August (3pm BST)
Borussia Mönchengladbach (GER) at St. James’ Park