Hernandez, 23, was relatively unknown outside Mexico this time last year, when United announced that they had signed the forward from Guadalajara for £6 million.
But he burst onto the international scene at the World Cup in South Africa and made a big impression in his debut season at Old Trafford, scoring 20 goals as United won a record 19th league title and reached the Champions League final.
His ruthless finishing and impressive work-rate are believed to have caught the eye of Real Madrid, who are on the lookout for some new firepower up front, but Chicharito can only see his future at United - with Ferguson's belief in him a key reason for him wanting to stay.
"I'm very motivated after a great season with United," Hernandez said. "From now on I'll owe a great debt to Sir Alex for bringing me to Europe.
"My dream has not changed. I want to win many titles to give back to the team that opened the doors for me."
Hernandez scored a hat-trick in Mexico's CONCACAF Gold Cup demolition of El Salvador on Monday, but was quick to play down the plaudits he received after the game.
"I'm not a symbol or idol," Hernandez said. "Football is not a sport like golf but a team game."