The model served as the replacement of the Ferrari 290 MM, which had won the 1956 Mille Miglia and was an effort to dethrone the ever powerful Maserati 450S.

[2] The 315 S employed a front mounted evolution of the 60° Jano V12 engine with two valves per cylinder, six Weber 42 DCN carburettors and four chain-driven overhead camshafts,[3] for a total displacement of 3,783.40 cc (3.8 L).

[4][5] The Ferrari 315 S drivers took the first two positions at the 1957 Mille Miglia in the hands of Piero Taruffi which ended up being the final race of his career, followed by Wolfgang von Trips.

[7][8] The change in regulations for the World Sports Car championship to a 3-litre engine limit for 1958 meant the 315 S was replaced by the 250 Testa Rossa.

Built new as a 315 S, raced twice as such by the factory and only briefly in period in the US without modification before long-term storage and careful restoration.