The 23-year old Portuguese winger has signed a one-year deal with the Reds with his arrival filling both the player roster and import quota for the upcoming A-League season.
"He (Ferreira) is quite happy and he's another one that I think is going to be a real surprise packet," Reds head coach John Kosmina said.
"Everyone talks about Marcelo or Jeronimo or Dario (Vidosic) or Serge (van Dijk) or somebody else, but Fabio has got a really good pedigree - you don't get signed to Chelsea for four years by Jose Mourinho unless you've got something about you, and he did enough to show that he has got what it takes and now it's just a matter of getting back up to where he was.
"He offers us a real point of difference in that he's a natural wide player and we don't have a lot of natural width so someone who can play as a natural winger and is a good dribbler with pace, they're hard to find these days, so I think Fabs is going to have a bit of fun as well.
"We've got quality but this is a bit of extra quality."
Ferreira arrived at Chelsea in 2005 before being signed to a professional deal in 2008 when Jose Mourinho was in charge, however, he was loaned out to Oldham Athletic before departing Stamford Bridge in the European summer of 2009.
Since then he has played for Portuguese clubs Esmoriz and Sertanense before moving to Australia in February this year when he signed for NSW Super League club Dulwich Hill. He has also represented the Portugal U19 team on two occasions.