He participated in 18 Formula One Grands Prix, debuting on 13 March 1983, scoring no championship points.

In 1980 he partnered Michele Alboreto in the Euroracing European F3 team, finishing third in the championship.

In 1983 Fabi made his debut in Formula One with Osella at the Brazilian Grand Prix.

Despite the car's lack of competivity, which marred his season, Fabi was able to show form, regularly outqualifying his team mate Piercarlo Ghinzani.

After his opportunities in Formula One dried up, Corrado Fabi raced briefly in CART before retiring to look after the family business.