Marking the return of the famous GTO badge, which stands for "Gran Turismo Omologata", Ferrari today unveiled the 599 GTO, a limited edition supercar that's inspired by the track-only 599XX prototype.

Set to make its public debut at the Beijing Auto Show in China at the end of April, only 599 examples of the GTO will be built.

Billed as the company's fastest ever road car, the 599 GTO makes use of the 599XX's (Enzo-derived) tweaked 6.0-liter V12 engine that punches out 670-horsepower at 8,250 rpm with maximum torque of 620Nm (457 lb-ft) at 6,500 rpm. For comparison, the V12 delivers 700HP in the 599XX and 620HP in the standard 599 GTB.

Despite the increase in power over the 599 GTB Fiorano, fuel consumption and CO2 emissions are both improve slightly to 17.5 lt/100km (13.4mpg US) and 411 g/km respectively.

Power is sent to the rear-wheels through the same six-speed sequential gearbox with lower 60 ms shift times and the possibility to make multiple downshifts found on the 599XX.

Ferrari announces a 0-100km/h (62mph) acceleration time of just 3.35 seconds and a top speed over 335 km/h or 208mph.

More importantly, Maranello says that the 599 GTO lapped the Fiorano circuit in just 1min 24sec, or a second faster than the previous record set by the Enzo, making it the company's fastest ever road-car.

The 599 GTO inherits much of the weigh-saving measures employed in the 599XX track-racer including widespread use of composite materials, resulting in a dry weight of 1495 kg (3,295 lbs) or 84kg (185 lbs) less than the 599 GTB, and a weight-to-power ratio of just 2.23 kg/hp.

Ferrari sharpened the supercar's handling with the use of new springs and a stiffer rear antiroll bar as well as a second generation magnetorheological suspension control system (SCM2).

There's also a lighter , carbon ceramic braking system, again derived from the 599XX, that helps the GTO come to a halt from 100km/h (62mph) in just 32.5 meters.

Other changes include the improved aerodynamics with the addition of a new front spoiler that incorporates a separate lower wing, a new sill design with a more pronounced leading edge, a new double-curve rear diffuser and the tweaked underbody panels.

The 599 GTO also gets a new hood design with air-vents and a matte gray rooftop finish while it rides on new 20-inch alloy wheels shod in beefier tires size 285/30 up front and 315/35 at the rear.

As for the interior, Ferrari fitted the car with bespoke, longer carbon-fibre F1 paddles for easier use in high-speed driving, a pair of bucket sport sears and the so-called "Virtual Race Engineer", which is a system that monitors the status of the car and gives the driver immediate visibility of vehicle performance.

The Italian company did not release pricing on the 599 GTO, but a leaked document suggest that those interested will be looking at €267,136 (~$355,000) before taxes and options.