Fernkorn studied sculpture under the sculptors Johann Baptist Stiglmaier [de] and Ludwig Michael Schwanthaler in Munich, 1836–40.
His first sculptural project, “Saint George and the Dragon” for the courtyard of the Montenuovo palace, attracted attention, and the Austrian government appointed him director of the imperial bronze foundry at Vienna, in 1840, where he was part of the rebellion against the Neo-Classicism of that time and place.
His equestrian monument of Prince Eugene of Savoy is less successful and by the time of its unveiling in 1865, Fernkorn's mental illness made it impossible for him to produce any more work.
Fernkorn created the oldest representative public monument in Ljubljana, a bust of the field marshal Joseph Radetzky.
The statue was removed by "patriots" in the night of 30 December 1918, after the collapse of the Austria-Hungary and the end of World War I, and later placed in the National Museum.