Frecklington has impressed during pre-season at London Road and is set to be involved in Saturday's friendly against Barnet.
Ferguson said: "Lee was frustrated with how last season went, but we had an honest chat out in Portugal and he said he wanted to work hard and give it a real go and to be honest, he has been magnificent in training.
"Lee's ability has never been in question, I know what a good player he is because I brought him to the club.
"He has also performed well in the Championship and it is just a case of staying injury-free.
"Lee is happy to be taken off the list."