Tickets go on sale from Tuesday January 31st with a price of €60 per day per adult.
The ‘vertical accelerator' will zoom adrenaline junkies along a track from 0 to at 180 km/h in five seconds before soaring up to a height of 112 meters and then plunging them down the other side.
"The acceleration is going to be even quicker than a Formula One car," explained Marc Gené, a Ferrari Formula One test driver working with Ferrari Land.
"What is going to be very impressive is the G force on the vertical accelerator. At 4.5 G it is even more than a formula one car."
"Attractions will allow visitors to experience first hand some of the sensations of driving a Formula One racing car. It's a park for all ages, where even the youngest members of the family can discover the legendary spirit of Ferrari," Gené said.
The famous Italian sports carmaker struck a deal with the PortAventura World, a park an hour's drive south of Barcelona to develop the Ferrari themed park with an investment of €100 million.
The park will include a race track, Formula One simulators and two ‘bounce back' free fall towers, which launch passengers in two directions from a height of 55 meters.
The new adventure park will include eight attractions as well as a Little Italy with replicas of Rome's Colosseum, La Scala opera house in Milan, Piazza San Marco in Venice and the Palazzo Vecchio in Florence.
It will also include Italian themed restaurants and a building based on the real factory owned by Enzo Ferrari.
The new theme park hopes to replica the success in Europe of Ferrari World in Dubai which was opened in 2010 and ParkAvenutura was chosen as the site because it already attracts four million visitors a year.
"Ferrari wanted to be associated with an established brand. There is one amusement park near Lake Garda in Italy, but it is not on the same scale as PortAventura and it is not so geared up to families," explained Fernando Aldecoa managing director of PortAventura World in The Times.
PortAventura already includes an adventure park and water park in a complex of five themed hotels offering a total of 2,100 rooms.