The California T will go on sale in Europe in the summer. U.S deliveries begin in the second half.
Ferrari sees turbocharged engines as a way to cut fuel consumption without reducing performance. Its last turbocharged production car, the F40, was sold in the 1980s.
The company has not yet disclosed pricing for the California T. The current California is Ferrari's entry model with prices starting at 186,723 euros in Italy. The California T likely will continue to be the brand's lowest priced model.
IHS Automotive analyst Ian Fletcher said lower fuel costs and reduced CO2 emissions are not an issue for most Ferrari buyers, but high-end automakers need to show an element of corporate responsibility and that they are not just producing vehicles focused on speed and power.
"For Ferrari and others of its ilk, I think the figures highlight their technical and engineering capabilities," he said.