Ferguson was promoted to the first-team coaching staff at Everton in 2014 and served as the assistant manager under both Rafael Benitez and Carlo Ancelotti.
The former striker also had interim manager roles at Everton twice, but eventually left the club after Frank Lampard took charge in January this year.
The 50-year-old, an Everton legend, wants to pursue a managerial career and has been looking for offers from clubs.
But it has been claimed that Ferguson has knocked back an offer to become the next Dundee United boss.
They have been looking for a new manager since they sacked Jack Ross towards the end of last month.
Dundee United are at the foot of the Scottish Premiership table and approached Ferguson to take charge of the club.
He started his career at Dundee United before moving on to Rangers and Everton and Ferguson is still admired at Tannadice.
However, the 50-year-old turned them down and is looking for other offers to land on his table.
