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The Ferrari F355 is an evolution of the 348 and was replaced by the 360.
Apart from the displacement increase from 3.4 to 3.5 L, the major difference between the V8 engine in the 348 and F355 is the introduction of a 5-valve cylinder head. This new head design allowed for better intake permeability and resulted in an engine that was considerably more powerful, producing 380 PS (279 kW; 375 hp).
The frame is a steel monocoque with tubular steel rear sub-frame with front and rear suspensions using independent, unequal-length wishbones, coil springs over gas-filled telescopic shock absorbers with electronic control servos and anti-roll bars. The car allows selection between two damper settings, "Comfort" and "Sport". Ferrari fitted all road-going F355 models with Pirelli tires, size 225/40ZR 18 in front and 265/40 ZR 18 in the rear. Although the F355 was equipped with power-assisted steering (intended to improve low-speed drivability relative to the outgoing 348), this could optionally be replaced with a manual steering rack setup by special order.
The nomenclature does not follow the formula from the previous decades, i.e., engine capacity (in liters) followed by number of cylinders (e.g. 246 = 2.4 liters, 6 cylinders, 308 = 3.0 liters, 8 cylinders, etc.). For the F355, Ferrari used engine capacity followed by the number of valves per cylinder (355 = 3.5 litres engine capacity and 5 valves per cylinder) to bring the performance advances introduced by a 5 valve per cylinder configuration into the forefront.
Total production of 11,273 units made the F355 the most-produced Ferrari at the time. This sales record would be surpassed by the next generation 360 and later, the F430.