The news of Neville's latest setback sparked fears of another lengthy absence for the defender, who has not played a first-team game since breaking his ankle against Bolton in March.
However, Ferguson has claimed the 32-year-old will be back in contention for the trip to Bolton on November 24.
"Gary will be okay next week," said the Scot.
"He felt a bit of a strain in his calf, so panic immediately sets in with everybody because he has had such a hard time.
"But the projection is that it is more precautionary than treatment requiring, so he will be back in the game after Blackburn."