Ferdinand, who has been released by United this summer, had an indifferent England career and will be in Brazil giving his expert opinion as part of the media.
Carrick was left out of the squad by Hodgson, who has a selection dilemma ahead of their opening clash with Italy next Saturday.
Ferdinand reckons Carrick should have been in the squad and thinks England will struggle.
“He’s been under-appreciated in an England shirt and never had the respect he deserves,” Ferdinand told the Mail on Sunday.
“He’s the best holding midfielder England have. He knows the role.
“As a former England captain and big England fan there is nothing I would love more than to see Roy Hodgson’s team reach a quarter-final showdown with World Cup hosts Brazil.”
Ferdinand added: “But if I was a betting man I would not risk money on England getting out of Group D, let alone making it within sight of the semi-finals.”