No details of the new car were forthcoming, but Montezemolo said the prototype 599 hybrid will be officially unveiled at the Geneva auto show in March.
European patents revealed last year suggest that Ferrari was working on a four-wheel-drive hybrid drivetrain with electric motors powering the front wheels.
The Italian magazine Quattroruote has since reported that the new system will use lithium batteries and an electric motor to cut the fuel requirements of the 599's V12 by 35 percent.
Montezemolo said he was keen for Ferrari to lead F1 in the transfer of race technology to road cars.
Company sources said the Ferrari hybrid system is derived from the KERS (kinetic energy recovery system) used in 2009 F1 racing season.
