The car was announced in January 2006, and unveiled the next month in Geneva, Switzerland. The Fiorano held the soul of the Daytona, but had the technology that only six decades of competition experience could provide. It proved to not only be a good replacement for the Maranello, but the most powerful V12 in Ferrari's history. The Fiorano is essentially a stripped-down 612 with new, Pininfarina-designed bodywork.

Despite its stunning good looks, the Fiorano is larger than the car it replaces. Its long hood/short trunk proportions closely hewed to the front-engine tradition at Ferrari, but it has enough curves and body creases that drivers don't notice the increased size. The car has large air intakes flanking the grille, which help to cool the engine bay and the front brakes. Radiator heat is vented through hood-mounted ducts and an outlet on each of the front fenders. Behind each door, a small scoop directs cool air to the rear brakes.

Most suspension components were taken from the 612, but damper and spring rates were changed to accommodate the shorter wheelbase and lighter curb weight. The Fiorano has four-wheel vented brakes and cross-drilled disc brakes; carbon ceramic brakes were available with the 20" wheel package. Part of the magic of the Fiorano was of course its V12 engine; essentially the same unit used in the Enzo, but modified for daily driving.