Ferguson's current loan from Newcastle United ends after Easter Monday's derby against Wolves but Birmingham expect to extend the deal until the end of the season.
But Clark is already looking ahead and is putting plans in place to have the Northern Ireland defender back on loan at St Andrew's next season.
"Whether it's possible, I don't know," said Clark. "Shane is very highly rated by Newcastle and has just signed a long-term contract there. But it is definitely something to talk about between the two clubs.
"From my point of view, Shane is a Premier League quality player. He has done very well already in the short space of time he has been here and I think he's enjoyed himself, going out and getting regular competitive football.
"If it is doable, then of course I'd love to have him back, for the season if possible.
"There is no chance of anything permanent, they hold him in such high regard."
Clark, who worked with Ferguson during his time as a coach at Newcastle, feels the 21-year-old would benefit from playing regular football at Birmingham rather than being a squad player at St James' Park.
"I have known Shane since he was a kid at Newcastle," he added. "As a manager, I have tried to bring him in before.
"I like his attributes. He's an excellent footballer and although he seems so slight he's tenacious. And he's a good character to have about the place.
"What happens obviously depends on Newcastle. It's whether they see him taking that step up to the first team on a regular basis next season, or do they want him to carry on learning elsewhere on loan?"