Veteran Scholes is approaching the end of his career at Old Trafford, given that he has already come out of retirement once.
And, with the void Scholes' departure from the first-team squad will create, Ferguson is wasting no time in trying to find a suitable replacement in the midfield engine room.
It appears 27-year-old Cabaye could be the man Ferguson turns to in the summer transfer window.
The France international, who United scouts reportedly watched in action in Newcastle's Europa League quarter-final tie on Thursday, would cost around £20million if Alan Pardew allows him to leave.
Reports suggest Cabaye wasn't the only one Ferguson was checking out at St James' Park.
United were also looking at Ezequiel Garay and midfielder Nicolas Gaitan in their 4-2 aggregate Euro win over the Toon.
Meanwhile, Portuguese winger Nani is set for a summer switch to cash-rich Paris St Germain.