The actor, who signed to replace Steve Carell in The Office for a limited run, appeared on the NBC morning show and spoke with Vieira about a Today segment in 2007 where he dropped her while ice skating.
"I just want to say, you're welcome," the actor quipped, before Vieira joked about her lawyer struggling to contact him since the incident.
Vieira then added that Ferrell is "hysterically funny" and "one of the nicest people" she has met.
The actor responded: "We will miss you and I'm so sorry you got fired."
Vieira confirmed her departure from Today earlier this week and admitted that she had gone "back and forth" when deciding about her future on the show.
Watch Will Ferrell and Meredith Vieira on Today below: