Centro Stile Ferrari – the company's in-house design studio – worked with its Scuderia racing division's aerodynamics department to create the Concept 1 vehicle.
The design represents a change in direction from the aesthetics of current Formula One racing cars, which were criticised for being "ugly" throughout last year's championship.
"Would it be possible to come up with an F1 car which not only is technologically advanced, but also captivating to the eye and aggressive-looking?" reads a statement released by Ferrari. "And could this be made without having to overturn the current technical rules?"
The highly-criticised bulbous-nosed designs produced by manufacturers for the 2014 season were restricted by regulations that aimed to make the races more competitive and allow overtaking to take place more frequently.
By proposing the introduction of minimal bodywork changes, Ferrari has offered an alternative vision for the future aesthetic of the sport designed to stay within regulations, while also keeping the races competitive and exciting for viewers.
"Our challenge was to create something that was – to put it short – better looking," continues the statement, which invites the public to offer feedback on the design.
The concept was unveiled as representatives from the Formula One Commission – a body that decides whether to implement changes to the sport's regulations – met to discuss its future on Tuesday in Geneva.
Following the meeting, the commission announced that it had rejected proposals to overhaul the sport's rules and regulations for the 2016 season, meaning it is unlikely Ferrari's Concept 1 design will be built any time soon.
The introduction of wider tyres, engines with greater power and changes to bodywork design regulations have all been put on hold for two years.