The Enzo, named after the founder, was established to commemorate Ferrari's first formula one title of the new millennium.

The Enzo was designed by Ken Okuyama, the Japanese former Pininfarina head designer, and initially announced at the 2002 Paris Motor Show with a limited production run of 349 and at US $659,330. The company sent invitations to existing customers, specifically, those who had previously bought the F40 and F50. All 349 cars were sold in this way before production began. Later, after numerous requests, Ferrari decided to build 50 more Enzos, bringing the total to 399. Before being unveiled at the Paris Motor show, the Enzo (that was used in the show) was flown from Italy to California to be filmed in Charlie's Angels: Full Throttle. It was driven on a beach by actress Demi Moore. After filming was complete, the Enzo was flown to France to be in the Motor Show.

The Enzo Ferrari typically trades above $1,000,000 (£800,000) at auction.