The 365 was updated as the BB 512 in 1976, resurrecting the name of the earlier Ferrari 512 racer. The engine was larger at 4942 cc, had an increased compression ratio of 9.2:1, and a new dual plate clutch to handle the added power and ease pedal effort. Dry sump lubrication was used to prevent oil starvation in hard cornering due to revised rear suspension and wider rear tires. External differentiators included a new front spoiler, wider rear tires, added NACA side air vents ducting air to the brakes, and four tail lights, instead of six.
929 BB 512 models were produced.