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Ferguson made his hotly anticipated return to the octagon on Saturday at UFC 256 in Las Vegas.
'El Cucuy' found himself locked in an armbar in the final 10 seconds of the first round and was wincing in pain.
Oliveira was in full control of Ferguson at that point and continued to hyperextend his arm in ways that would shock most fans.
While the 31-year-old Brazilian UFC fighter did everything in his powers to make Ferguson tap, 'El Cucuy' managed to hold on and was rescued by the horn sound.
However, Ferguson has now suffered back-to-back losses for the first time in his professional career after Oliveira won by unanimous decision.
Oliveira, who is on an eight-fight winning streak, revealed that he has his eyes on the championship crown in 2021.
"Nobody has done to Tony Ferguson what I just did," he said.
"I'm proving that I have what it takes to be champion, and that I will be champion next year."
UFC president Dana White said that Oliveira is "one of the best in the world" in the lightweight division.
Speaking at UFC 256's post-fight press conference, the 51-year-old said: "He is definitely one of the best in the world in the nastiest division in the sport."
White also praised Ferguson for surviving Oliveira's armbar, saying a majority of other fighters would have tapped out.
He added: "10 out of 10 people would have tapped to that armbar but somehow Tony Ferguson survived."
Featured Image Credit: BT Sport
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