Everton made a late attempt to sign Patterson towards the end of the last summer transfer window and tabled two bids in an attempt to take him to Goodison Park.
But Rangers rejected both those offers and resisted selling the talented 19-year-old right-back late in the transfer window.
Everton could well go back in for him in the winter transfer window and are expected to test Rangers’ resolve to hold on to the Scotland international.
Ferguson insisted that Rangers cannot consider letting the young defender leave in the near future as he could be a big player at Ibrox for the next decade or so.
He believes it could take an outrageous bid for Rangers to even sit at the negotiating table with Everton.
The Rangers legend said on the Go Radio Football Show: “They can’t even consider selling him.
“It needs to be something absolutely ridiculous for Rangers to even sit around the table.
“I think they would rather go and sell other assets.
“I think it needs to be something ridiculous for them to even consider selling Nathan Patterson.
“Nathan is 19, they have got a player for the next 12 to 14 years in their ranks.”
Patterson has made just 18 appearances for Rangers but has already broken into the Scotland squad.