Last month it was exclusively revealed in the Express & Star that Ferguson, who is out of contract in the summer, was in discussions over a new long-term deal with the Baggies.
The 19-year-old has been a revelation for Albion ever since catching the eye of Slaven Bilic in pre-season training.
The teenager joined the club aged eight but played at centre-back as he came through the academy ranks.
Bilic, though, has converted him to a full-back – with Ferguson having gone on to impress at both right-back and left-back this season.
Those performances have led to interest from elsewhere with Premier League Crystal Palace reportedly keen on the England under-20 international.
Now though he is expected to sign a new five-year-deal at The Hawthorns – with reports emerging that an announcement could be made in the next fortnight.
The Baggies are also close to agreeing a new contract with Wales international Robson-Kanu, whose deal runs out at the end of this season.
The striker, 30, will sign a new 12-month extension to extend his spell at The Hawthorns.