Ferguson has no official role at Finch Farm but, according to the club's website evertonfc.com, has spent the last few weeks at the training complex working with academy manager Alan Irvine and other youth coaches.
Moyes, quoted on the website, said: "Duncan came back about a month ago and met me. He wants to watch and see what's going on. He is back and helping Alan Irvine.
"He is not a qualified coach yet because he is going through his badges, but we have got him in and he's happy to do the time and is working down at the academy.
"I have to say I didn't foresee him going into coaching when I had him as a player, but Duncan has come back and I think he misses the smell of football a wee bit.
"It could lead to something more, but what you need is your qualifications and that is the first thing."
Ferguson scored 72 goals for Everton in 273 appearances over two spells at Goodison Park.
Source: Team Talk
Source: Team Talk