McGregor is part of a Rangers defence that has conceded just 13 league goals this season and the 39-year-old has played a vital role with his brilliant saves.
There have been calls for Steve Clarke to call McGregor and convince him to come out of international retirement to play for Scotland in the European Championship this summer.
Many feel the Rangers goalkeeper would not be able to resist such a call but Ferguson does not see that happening.
He is not sure Clarke wants to look back when he already has a few good options but feels that McGregor is still the best goalkeeper in Scotland.
However, he feels that his time on the international stage has come and gone and he does not see the Rangers shot-stopper in the Scotland squad.
Ferguson said on the Go Radio Football Show: “I very much doubt it and I think Steve Clark has three very good goalkeepers there.
“If you ask my honest opinion, I think Allan McGregor is still the best ‘keeper, but I think his time has come and gone.
“And I don’t think I will see Allan McGregor in the Scotland squad in the Euros.”
McGregor signed a new contract last month with Rangers that will keep him at the club until the end of next season.
