The 430 Challenge is the track-only race version of the F430, built for Ferrari's Challenge one-make series. It uses the same 4.3-liter V8 as the road car but strips the interior, adds a roll cage and racing seat, and fits slick tires, race brakes and a firmer, lowered suspension. It is not street-legal.

Only the F1 automated manual was fitted, on a race calibration. As a purpose-built series car with no road homologation, it has no meaningful manufacturer road-performance figures, and ownership assumes track use and specialist support. It was unveiled at the January 2005 Los Angeles Auto Show.