Born in Glasgow, Scotland, Ferguson got his start as a drummer for punk bands. He came to know Michael Boyd, the artistic director of The Tron Theatre in Glasgow. Ferguson was soon the star of his own BBC television show, 'The Ferguson Theory. '
Ferguson starred with Betty White and Marie Osmond in the short-lived ABC comedy 'Maybe This Time.' After the show ended, Craig played Drew's boss on 'The Drew Carey Show.'
Ferguson has written the feature films 'The Big Tease' and 'Saving Grace.' Ferguson wrote, directed, and starred in 'I'll Be There.' Ferguson appeared in 'Lemony Snicket's: A Series of Unfortunate Events.'
Ferguson took over as host of THE LATE LATE SHOW on January 3, 2005.