La Gazzetta dello Sport says Napoli are looking for a replacement for André-Frank Zambo Anguissa.
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The 29-year-old is on an expiring contract, but Napoli has an option to extend until 2027.
And the Italian giants are turning to Ferguson, 25.
The Scotland midfielder has a Bologna contract until the summer of 2028 with an option for another year.
Bologna are said to be demanding a hefty transfer fee to release Ferguson, but no exact price tag has been mentioned.
The 25-year-old has scored one goal and one assist in 20 competitive matches this season.
Bologna signed Ferguson from Aberdeen in the summer of 2022.