When the Sports Car World Championship regulations changed from sports prototype cars to commercially produced GT cars in 1962, Ferrari applied its full resources to the development of a competition model, but only produced 39 units. The 250 in 250GTO refers to the displacement per cylinder and GTO is an abbreviation of Gran Turismo Omologato (meaning it complies with GT class racing regulations). The early 1960s was a time when pure racing cars were moving to mid-engine systems to improve maneuverability, but front-engines were still the mainstream for production car-based racing cars.

The 250GTO was no exception with its front-engine and conventional steel tubular frame underneath its sleek all-aluminum fastback body designed by Sergio Scaglietti. The low nose with its distinctive D-shaped triple intake housed a 3-liter V12 SOHC engine that used a dry sump system in combination with a Weber 6 carburetor to produce 300ps/35kg-m (there are various theories). With its weight of just under 1 ton, the Ferrari 250GTO produced exceptional performance and achieved competitive success around the world, including three consecutive Sport Car Championships which was the main reason for its creation.