Colin Ferguson was born in Kingston, Jamaica on January 14, 1958 to Von Herman and May Ferguson. Von Herman was a wealthy pharmacist and the managing director of the large pharmaceutical company Hercules Agencies, and was described by "Time" magazine as "one of the most prominent businessmen in Jamaica". Ferguson attended the Calabar High School in Red Hills Road, Kingston from 1969 to 1974, where the principal described him as a "well-rounded student" who played cricket and soccer. He graduated in the top third of his class.