Ferrari made a series of turbocharged, 1.5-litre, V6 racing engines designed for Formula One; between 1981 and 1988. The engine was first used in the Ferrari 126C, in 1981.

The Ferrari 126C engine, dubbed the Tipo 021/1, was designed to replace the highly successful but obsolete flat-12 used in the 312T series in use since 1975. The V6 engine used forced induction, better suiting the ground effect aerodynamics now needed to be competitive (the previous car's wide flat-12 boxer engine obstructed the airflow necessary to generate efficient ground effect), and was a better package overall. During engine development Ferrari started experimenting with a Comprex pressure wave supercharger, supplied by a Swiss company; this car version was initially called 126BBC from the name of Brown Boveri Comprex and later named 126CX. The system was praised by drivers for driving like a naturally aspirated engine but having an extended power range, thus eliminating the notorious lag of the turbocharger. However the system was rather tall in the car and there could be some mixing of exhaust and intake gas so the team opted for the fitment of twin KKK turbochargers producing around 600 bhp (447 kW; 608 PS) in qualifying trim, detuned to 550 bhp (410 kW; 558 PS) in race trim. The car fitted with turbochargers was called 126CK.

Enzo Ferrari had hired Nicola Materazzi in December 1979 to work with Forghieri and Tomaini and specifically for his experience with the turbocharging in the Lancia Stratos Gr 5 Silhouette cars. He would bring technical know-how in the team to match the knowledge that Renault had built over time. Materazzi thus saw the advantages of the comprex system but also its difficulties and prepared also a second iteration with two smaller Comprex systems driven by hydraulic clutch instead of a belt but this was not used since the turbocharger was deemed simpler and worth pursuing. Hence Materazzi proceeded to perfect the following iterations of powertrain to obtain increased power and reliability.

The 126CK was first tested during the Italian Grand Prix in 1980. In testing it proved far faster than the 312T5 chassis the team was then using and Gilles Villeneuve preferred it, though he had reservations about the handling. Early unreliability of the turbo engine put paid to Villeneuve's 1981 championship hopes but he did score back to back victories in Monaco and Spain, as well as several podium places. Because of the problematic handling, the 126CK was at its best on fast tracks with long straights such as Hockenheim, Monza and Buenos Aires. The car proved to be very fast but Gilles Villeneuve found the handling to be very difficult, calling the car "a big red Cadillac".

The engine had massive turbo lag, followed by a steep power curve, and this upset the balance of the chassis. Although the Ferrari engine was the most powerful engine that year, even more so than the Renault.

The arrival of Harvey Postlethwaite led to a total overhaul of the car in time for the 1982 season. The turbo engine was further developed and reliability was found. The 126C2 engine was further developed during the season, with new wings and bodywork tried, and the engine's power boosted to 650 bhp (485 kW; 659 PS) in qualifying trim and around 600 bhp (447 kW; 608 PS) in races.

The 126C3's engine was first introduced for the British Grand Prix at Silverstone in 1983, with Patrick Tambay, while Arnoux would get to drive a 126C3 at the subsequent race in Germany at Hockenheim, which he ended up winning. Postlethwaite kept the oversized rear wing of the 126C2B, and over the season, Frenchmen Patrick Tambay and René Arnoux scored four wins between them and were both in contention for the world championship throughout 1983, but late unreliability cost them both. However, largely due to their main Constructors' rivals in 1983 (Brabham and Renault) having second drivers who had relatively poor seasons (Riccardo Patrese at Brabham and Eddie Cheever at Renault), Ferrari took the constructors' title for the second year in a row. Further compensation came from the engineers who boosted the power of the engine even further, to around 800 bhp (597 kW; 811 PS) in qualifying and over 650 bhp for racing, generally regarded as the best power figures produced in 1983.

While the 126C4's engine was powerful at around 850 bhp (634 kW; 862 PS) in qualifying making it virtually the equal of the BMW and Renault engines (and giving it more power than McLaren had with their TAG-Porsche engines), the car itself produced little downforce compared to its main rivals with both new signing Michele Alboreto (the first Italian driver signed by Enzo Ferrari since 1973) and Arnoux claiming all season that the car lacked grip. This also had an effect on the cars' top speeds at circuits such as Kyalami, Hockenheim, and Monza as the cars were forced to run with as much wing as possible in order to have grip. This was shown in Round 2 in South Africa (Kyalami) where the Ferraris were some 25 km/h (16 mph) slower on the long straight than the BMW powered Brabhams, primarily due to the increased drag from high wing settings. The high wing settings also hurt fuel consumption during races with both drivers often having to drive slower than possible in order to finish races (re-fuelling was banned in 1984 and cars were restricted to just 220 litres per race).