It is regarded today as one of the greatest of the Chevrolet small-blocks, an engine that has been in production since 1955.

In the Camaro, the engine was available only through the high-performance Z/28 option, replacing the 302 cu in (4.9 L) engine designed to compete in Trans Am racing's 305 cu in (5.0 L) class installed in 1967-1969 cars.

The LT-1 had an 11.0:1 compression ratio, Holley 780 cu ft/min (22 m3/min) 4-barrel carburetor, and solid lifters.

In 1992, General Motors introduced the LT1, a high-performance 350 cu in (5.7 L) engine based on the Chevy small-block V8 and named as a tribute to the original LT-1.

It was offered as a base engine on the C4 Corvette and a variety of other GM vehicles in several states of tune through 1997, including the Camaro Z/28, performance-package Pontiac Firebirds, police interceptors, a number of large luxury cars, and a luxury station wagon.