A breakaway group of Chelsea, Tottenham Hotspur, Manchester City, Arsenal, Liverpool and Manchester United have long been expected to do battle for the top four places in the table, but Everton's recent form has seen them move to within six points of fourth spot.
The Toffees are unbeaten in nine Premier League games and have the joint best record in the league since the turn of the year, and Ferguson is refusing to rule out the possibility of catching the teams above them.
"The last two or three months we've really gelled together," he told Sky Sports News.
"We've found a winning mentality, ground out results. We haven't been playing brilliant but we've been getting good results. I'm hoping that will continue.
"We're not ruling out Europe this year. We're not far away from the top four. If we keep on getting good results we can push for the top four. That's what we're looking for and we can push on for next season."
Everton take on high-flying Tottenham Hotspur at White Hart Lane next weekend.