text: The GT350 was a post-title upgrade available from Shelby. Customers could have their 2011 Mustangs shipped directly to Shelby's Las Vegas facility to be converted or they could deliver the car themselves. Automatic transmission was available for conversion with a naturally aspirated engine, producing up to , and manual transmission cars had the option of NA or a supercharged engine fitted with a Ford Racing supercharger to produce , or at the expense of the warranty, , a Ford Racing suspension system (The first 100 cars were fitted with the Eibach suspension carried over from the GT500 Supersnake), Baer brakes in front and optional in rear, Custom Borla exhaust system, 19-inch Cragar wheels, and more. For the exterior, Shelby installed a new front fascia, front splitter, functional hood scoop, functional brake cooling ducts, tail light trim, rear deck lid filler panel, and a rear fascia with center exhaust exit. Performance White with Guardsman Blue racing stripes were the only available color combination for 2011 models. 2012 models were available in other colors, but lost the 45th Anniversary badge of the 2011.
  Initial road tests of the GT350 by Motor Trend show the 2011 Shelby GT350 is capable of accelerating from 0– in 3.7 seconds, compared to the 412 horsepower 2011 Mustang GT's time of 4.4 seconds. It is also faster than the 2011 GT500, which needs 4.2 seconds to get to  as well as the Shelby Super Snake with , which takes 4.1 seconds. Weight difference isn't a factor to blame for the better performance than the GT500, considering the GT350 is only  lighter than the newly lightened GT500.
  The GT350's quarter mile time is 12 seconds at .
  NASCAR pace cars
  Two GT350s were used to pace the 2010 NASCAR race in Las Vegas. They had the prototype front fascia and are now displayed at the Shelby Heritage Museum, being a mainstay for promotional materials and posters.
  2011 Shelby GTS
  2012 Shelby GT350
  After being revealed at Barrett Jackson in 2010 as a celebration of the original 1965 Shelby GT350s 45th anniversary, the 2012 GT350 made its world debut at the 2011 Chicago Auto Show.
  A convertible version was offered for 2012, the first convertible GT350 since 1970.