The Ferrari 312T was based on the 312B3 from 1974. In various versions, it was used from 1975 until 1980. It was designed by Mauro Forghieri for the 1975 season and was an uncomplicated and clean design that responded to mechanical upgrades.

The 312T series won 27 races, four Constructors' and three Drivers' Championships, making it the most successful car in the history of F1. It was replaced for the 1981 season by the 126 C, Ferrari's first turbocharged F1 car.

The car was powered by the powerful and ultra reliable flat-12 engine which gave around 510 bhp. The T in the name stood for trasversale or 'transverse' five speed gearbox ahead of the rear-axle line, improving the car's handling characteristics, which had been the downfall of its predecessor.

The 312T3 was introduced for Villeneuve and Reutemann at the third race of the 1978 season.

The car featured the same flat 12 engine as had been used since 1970, albeit tuned to give around 515 bhp. The chassis was completely new, with a new monocoque structure and a different suspension arrangement, designed to work with the Michelin tyres. The bodywork visibly very different, with a flatter top to the body, allowing improved air flow to the rear wing.

All the hard work came to nothing though as the pioneering Lotus 79 ground effect "wing car" took on and beat all comers with ease that season, and Ferrari were left to pick up the pieces of any Lotus failures. Reutemann won 4 races, whilst Villeneuve won for the first time at the final race, his home race in Canada, but it was more a season of consolidation. Reutemann moved to Lotus for 1979, replaced by Jody Scheckter. Ferrari was 2nd in the Constructors' Championship.