The 33-year-old Canadian midfielder has emerged as one of the top performers under Gers boss Van Bronckhorst in recent weeks.
His performances have gone up a level under the Dutchman and he was again brilliant in Rangers’ win over Borussia Dortmund in their Europa League last 16 tie.
Ferguson is a big fan of Arfield and loves the energy and drive he adds to the middle of the park; he admires the fact that the midfielder does not shy away from doing the dirty work as well.
The Rangers legend wants the midfielder to stay and sign a new contract as he feels under Van Bronckhorst he has been nothing short of brilliant.
The former Rangers captain said on the Go Radio Football Show: “He is a real team player.
“We all know that he runs the midfield, breaks brilliantly, he runs and goes beyond and he has got a goal in him.
“But he does the dirty side brilliantly.
“I would like to see Scott Arfield sign a new contract, he is up in the summer.
“I know he is getting on a bit, he is 33 or 34, but for me, he has been outstanding since Gio has come in.”
Arfield has made 32 appearances in all competitions for Rangers this season and has netted five goals.