Police said the car had been confiscated from criminals.
The €12,000 (£10,180; $12,255) cost of converting it for police use was about the same as buying a new Skoda hatchback, they added.
The Ferrari 458 Italia will be used for cracking down on illegal road races and chasing stolen cars among other things.
It can do 0 to 100km/h in 3.4 seconds.
Featuring fluorescent yellow and blue stripes, the vehicle will be used by the special surveillance department and will be driven by specially trained officers.
Jiri Zly, head of the police's traffic department, said the Ferrari would, among other things, be used against "the most aggressive drivers" on Czech roads.
The Czech police has hundreds of confiscated vehicles that come from criminals and are used to combat serious criminal activity throughout the country, police said.
-- Courtesy of BBC News