Ferguson injured his calf on day one of the First Test which Australia won by 296 runs and didn’t bowl another bowl during the rest of the match.
Speaking on Monday following the conclusion of the Test, New Zealand coach Gary Stead confirmed Ferguson was out of the series with a replacement to be named on Tuesday.
“Lockie is going home tomorrow unfortunately,” Stead said.
“The calf strain that he’s got is significant enough that it’ll be 5-6 weeks before he’s back and playing.”
In more positive news, Stead said that left-arm quick Trent Boult would be available for the Second Test on Boxing Day at the MCG after missing the opener with a side strain.
“Trent is going really well,” Stead said. “He was probably 3-4-5 days short of being ready for this Test match and it was a risk we weren’t willing to take given the length of the season.
“We weighed up the short term pain if he re-injured against the long-term gain of the whole season.”
New Zealand have recently fought back in away series against Pakistan and Sri Lanka, which offers hope in the three-match series.
Black Caps captain Kane Williamson said they were focused on working out ways to play better.
“It’s not so much focusing on bouncing back but playing better in all areas,” Williamson said.
“Basically looking at what’s in front of us and trying to be a bit better. It’s not about examining everything to a tee.
“You want to learn from parts and make small adjustments and then the improvements will be seen in a number of ways.”