The Swansea City midfielder has been out of action since November when he was injured in the home defeat by Birmingham City.
There had been hopes that he could return this season despite an initial diagnosis of being out until next term but those hopes have now finished as Ferrie told the Evening Post "Everything is going well as far as the surgeon's schedule goes.
"My schedule was a bit different in my head but I have ruled out playing this season now. The hope is gone.
"You have to be very strong when you come back and I still have a long way to go before I get total fitness. You need to be absolutely right or you might have another accident. That's something I would be scared of if I started back too early.
"I am not someone who goes to the gym normally but there has been no option for me. I can't wait to start running and that will probably come next Wednesday or Thursday. That will be the start of a new period for me and I will be back with the rest of the boys for pre-season. I can't wait for that.
"Everything takes so long with this injury and it's been the worst I've ever had. But saying that it's nice that I'm at a club where you want to look forward. When I was injured at my old club I was not happy. But here I am happy and can't wait to get started again. When I come back there will be no worries about my knee. I will start afresh next season."
And can the Swans reach the play-offs?
"We have to believe. We need a bit of luck as we saw last Sunday against Cardiff but we can still do it. If the bous can get a couple of good results this weekend they can get there."
