Nurmagomedov defended his UFC Lightweight Championship when he defeated Dustin Poirier at UFC 242 in September.
Ferguson, meanwhile, has won his last 12 bouts and deserves a shot at Khabib.
It’s the fight that UFC fans have been craving and according to White, it won’t be long before it goes ahead.
When asked if Khabib vs Ferguson was in the works, White told the Daily Express: “Yeah. Yup. We’re working on that.”
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The UFC president also confirmed to the paper that the showdown is expected to happen “in either March or April”.
The two have been slated to go head-to-head on four occasions in the past but injuries, weight-cutting issues and other freak incidents have delayed the fight.
White confirmed in September that the 25-3 Ferguson would be Nurmagomedov's next opponent.
"Tony Ferguson is next line (for Khabib) if he accepts the fight," White said, per MMA Mania.
"We'll see how this thing plays out, when Khabib will fight again, and if Tony wants to fight...and obviously, if for whatever reason Tony can't take the fight or doesn't want to fight at that time, then we would figure out what's next.
So 2020 is looking like it will be a really exciting year for UFC.
With Conor McGregor expected to return to the octagon, there are a slew of fighters that White is looking forward to watching.
"If you think about next year, Conor has said publicly that he wants to come back and fight next year," he added.
"You've got Tony versus Khabib, you've got [Jorge] Masvidal out there right now, you've got Israel Adesanya who is saying 'Everybody thinks Yoel Romero is so tough, I'll fight Yoel Romero.'
"And then you've got [Paulo] Costa out there too. There's a lot of good fights next. And oh, we haven't talked about [Jon] Jones.
"Then you've still got Stipe [Miocic] and [Daniel] Cormier again. There's so many good fights next year."
We can't wait.News Now - Sport News