It was first seen near Uranus by Matthew J. Holman, John J. Kavelaars, Dan Milisavljevic, and Brett J. Gladman on August 13, 2001 and reobserved on September 21, 2001.

These two new objects were reobserved by Sheppard et al. with the Gemini telescope on September 20, 2003 and reported to the Minor Planet Center as possible new moons of Uranus.

Holman was then able to confirm the linkage between the 2001 and 2003 objects on September 30, 2003 by observing its location with the Magellan-Baade telescope.

The linked 2001 and 2003 object was then given the provisional designation S/2001 U 2 on October 1, 2003, officially identifying it as a new moon of Uranus.

Now designated Uranus XXIV, Ferdinand is named after the son of the King of Naples in William Shakespeare's play The Tempest.