The midfielder faced an uncertain future after falling out of favour under former manager Vincenzo Italiano last term, starting in just 32 of his 45 appearances across all competitions despite captaining the side to the 2024-25 Coppa Italia.
Addressing the links with the Glasgow giants, Ferguson said: "I had a long think after the World Cup about my future, and I was a little bit unsure, but nothing was ever that close. When I went back for pre-season, we had a new manager [Domenico Tedesco], and it was like a fresh start.
"We have changed again since [with Raffaele Palladino], so I've had three new managers in the last two months [including Sebastien Pocognoli with Scotland]. I had a long think about what my future was going to look like and in the end it was still at Bologna. I've loved every moment that I've had there. It was just about continuing that journey and seeing where it takes me."