The Ferrari F355 Challenge is the factory race version built for Ferrari's one-make Challenge series between 1995 and 1998. It starts from the road F355 and adds the race hardware: a roll cage, a racing bucket seat and harnesses, a fire system and battery cut-off, uprated 14-inch Brembo brakes carried over from the F40, 18-inch magnesium Speedline wheels, Pirelli racing slicks and competition suspension.

The engine is essentially the standard 3.5-liter 40-valve V8; the Challenge formula was about chassis, brakes, tires and safety rather than more power. Ferrari also offered a conversion kit (around $30,000 at the time) so owners could turn a road car into Challenge spec. As a track-only race car it has no meaningful published top-speed or 0-60 figure, and it can't be used like a road-going F355.