The 25-year-old, who local media have reported bowls in excess of 150 kph, is the only new cap in the squad for the Chappell-Hadlee series with the 2015 World Cup winners.
"Lockie has been impressive on the domestic scene and bowls at a pace which gives our bowling attack a different option," selector Gavin Larsen said in a statement.
Ferguson's elevation to the squad was undoubtedly due to an injury to fellow fast bowler Adam Milne, who also regularly exceeds 150 kph.
Opening batsman Martin Guptill has been recalled for the three matches in Sydney, Canberra and Melbourne after being dropped from the test squad for the ongoing Pakistan series.
News that makes sense
Your trusted source for staying up-to-date with the world around you. Get free daily news updates and analysis, straight to your inbox.
Auckland all-rounders Colin de Grandhomme, who was man of the match on his test debut against Pakistan last week, and Colin Munro have also been recalled.
Legspinner Todd Astle, dropped for the second test against Pakistan in Hamilton when left arm orthodox spinner Mitchell Santner regained fitness after a broken wrist, has also been recalled for the series starting on Dec. 4 in Sydney.
Ross Taylor is to undergo eye surgery next week after the Pakistan test and was not considered.
"Todd and Colin de Grandhomme have both been in our thinking for ODIs and their ability with bat and ball gives the squad an important balance," Larsen added.
"Its good to see Colin Munro return and immediately have an impact for Auckland. He's shown how dynamic a batsman he is, so its great to have him available again, especially in Ross's absence."
New Zealand: Kane Williamson (captain), Todd Astle, Trent Boult, Lockie Ferguson, Martin Guptill, Colin de Grandhomme, Matt Henry, Tom Latham, Colin Munro, Jimmy Neesham, Henry Nicholls, Mitchell Santner, Tim Southee, BJ Watling.
(Reporting by Greg Stutchbury; Editing by Peter Rutherford)
