The teenage ace has penned a deal which has added two years to his current contract and will keep him at the club until the summer of 2024.
Since signing completing his move from Hamilton Academical in the summer the 19-year-old has developed into a key player at Pittodrie.
Ferguson has provided key moments this season, from netting a spectacular volley against Burnley in the Europa League to heading Aberdeen into the Betfred Cup final with a late winner against Rangers at Hampden Park. He has also struck crucial goals in late wins over Kilmarnock and Livingston.
He has made 30 appearances so far this campaign and scored seven times, while he made his Scotland U21 in September.
“It was an easy decision,” he told RedTV.
“As everyone can see, I am loving life up in Aberdeen and enjoying every bit of it.
“It is a long time, the length of the contract. And I have a lot to thank the manager and the club for. I have to thank them for repaying me with a new contact and I am just delighted. It shows that manager really trusts me and wants me here for the next few years.”