Kiss was appointed following the shock double departure of both David Humphreys as director of rugby and coach Mark Anscombe.
Ferris, who was forced to retire at the end of the season through injury, said Kiss was the right man to take Ulster forward.
He told UTV: "He is a fantastic coach and has a lot of experience.
"Shane Logan, the Ulster chief executive, always said it was about Ulster being world's best and that's not about players, coaches or stadiums.
"I like the way Kiss works, he is short and sharp, to the point and very easy to understand.
"He has the chance to be at Ulster for a long time and I think he is the right man for the job."
Ulster had a rollercoaster of a season which saw them knocked out of the European Cup against Saracens at the quarter-final stage and they also missed the Pro12 final after losing to Leinster in the semi-final.
Ferris added: "It is only going to get tougher and with so many changes at Ulster they will be against it.
"But they have so many experienced players, like Best and Pienaar, so they have every chance and people should expect to show up at the Kingspan expecting a win."
Ferris said he was considering coaching in his retirement, but was keeping his options open on what to do next.