Enzo Ferrari founded Scuderia Ferrari on 16 November 1929 following a dinner in Bologna, initially to enter amateur drivers in races using Alfa Romeo cars. Ferrari himself raced until the birth of his son Dino in 1932, and managed a large stable of drivers that at its peak exceeded forty, including luminaries such as Tazio Nuvolari, Giuseppe Campari, and Achille Varzi. The prancing horse emblem first appeared at the 1932 Spa 24 Hours; according to Ferrari, the parents of World War I ace Francesco Baracca — whose fighter plane bore the symbol — suggested he adopt it for good luck.
When Alfa Romeo experienced financial difficulties in 1933, Scuderia Ferrari became their de facto works operation. Alfa bought the Scuderia's shares in 1937 and moved racing activity to their own Alfa Corse division, appointing Enzo Ferrari as manager. Ferrari clashed with this arrangement and was dismissed in 1939, under a condition that he could not use the Ferrari name on a racing car for four years. He founded Auto Avio Costruzioni Ferrari, and in the winter of 1939–1940 built the Tipo 815, the first true Ferrari car. After World War II interrupted racing, Ferrari rebuilt his Maranello works and produced the 12-cylinder Tipo 125, which achieved its first win at the 1948 Italian Grand Prix with Giuseppe Farina.
Ferrari made its World Championship debut at the 1950 Monaco Grand Prix, the second race of the inaugural season. The team's first championship cycle brought immediate success: Alberto Ascari won consecutive Drivers' Championships in 1952 and 1953, becoming the first Ferrari-powered World Champion and the sport's first two-time champion. Juan Manuel Fangio then won the 1956 title for Ferrari, and Mike Hawthorn took a close-fought 1958 championship — Ferrari's first in the new Constructors' Championship era.
The 1960s brought continued competitiveness. Phil Hill won the Drivers' and Constructors' titles in 1961, and John Surtees claimed the 1964 Drivers' Championship in the final race of the season in cars controversially entered by the North American Racing Team under American colours, following a dispute between Enzo Ferrari and Italian racing authorities. The team periodically withdrew from races during this decade in protest actions against the FIA and organizers.
After a leaner period through the late 1960s and early 1970s, Niki Lauda brought Ferrari back to the top, winning the Drivers' Championship in 1975 and 1977 with Jody Scheckter adding a third in 1979. These years also saw the team win Constructors' titles in 1975, 1976, 1977, 1979, and 1982–1983.
The team's modern golden era began with Michael Schumacher's arrival in 1996. Under the technical direction of Jean Todt, Ross Brawn, and Rory Byrne, Schumacher and Ferrari dominated the 2000–2004 period with five consecutive Drivers' Championships and six consecutive Constructors' titles (1999–2004), the most dominant sustained run by any team in Formula One history. Schumacher won 72 Grands Prix for Ferrari in total, making him the team's most successful driver. Kimi Räikkönen won the 2007 Drivers' Championship — the most recent for the team — and Ferrari secured their last Constructors' title in 2008.
Since 2008, Ferrari has remained a front-running team without winning either championship. Charles Leclerc joined as lead driver in 2019, bringing Ferrari pole positions and race wins but not yet a title. In 2025, seven-time world champion Lewis Hamilton joined the team alongside Leclerc for the 2025 season.
In keeping with Italian racing tradition, Ferrari's cars are painted in rosso corsa, the traditional national racing colour of Italy. The sole exception came in the final two races of 1964, when the cars were entered by the NART team in white and blue American colours as a protest against Italian racing authorities. The team's cars have displayed the Ferrari prancing horse badge continuously since 1929.
Ferrari resisted commercial sponsorship longer than most teams; it was not until 1977 that Fiat group logos appeared on the cars. Philip Morris's Marlboro brand became Ferrari's major sponsor from 1984, escalating to title sponsorship in 1997 and lasting, through various arrangements, until 2011. From 2024, HP Inc. became title partner, giving the team its current designation.
Ferrari's 16 Constructors' Championships were won in 1961, 1964, 1975, 1976, 1977, 1979, 1982, 1983, 1999, 2000, 2001, 2002, 2003, 2004, 2007, and 2008. Nine drivers have won Drivers' Championships for the team: Alberto Ascari (1952, 1953), Juan Manuel Fangio (1956), Mike Hawthorn (1958), Phil Hill (1961), John Surtees (1964), Niki Lauda (1975, 1977), Jody Scheckter (1979), Michael Schumacher (2000, 2001, 2002, 2003, 2004), and Kimi Räikkönen (2007). The 2020 Tuscan Grand Prix marked Ferrari's 1,000th Formula One World Championship entry.
Alongside their Formula One programme, Ferrari has been a major force in endurance racing for decades. Their cars won the overall World Sportscar Championship twelve times and, as a constructor or through customer entries, the 24 Hours of Le Mans nine times prior to withdrawing from prototype racing in the early 1970s. After a fifty-year hiatus, Ferrari returned to the top class of endurance racing in 2023 with the Ferrari 499P Le Mans Hypercar, winning Le Mans in 2023, 2024, and 2025.
Ferrari also supplies engines to customer teams. Current and historical recipients include Minardi, Sauber, Prost, Toro Rosso, and Haas. The Fiorano Circuit, a private test track adjacent to the Maranello factory, was built in 1972 and remains the team's testing base.