Police nabbed the 38-year-old motorist on the A6 motorway 100 kilometres south of Paris, where he was headed in the F430-Spider sports car, bearing Swiss licence plates.
The driver, a citizen of Italy, was exceeding the speed limit by 120 km/h.
Officers fined him €750 on the spot and issued a summons for him to appear in court at Fontainebleau, the ATS news agency reported.
Because he was a foreigner “his (driving) permit was not revoked,” French police reportedly said.
Also, his Ferrari, a vehicle valued at around 104,000 francs ($113,000) and with a top speed of 315 kilometres an hour, was not seized.
A colleague was able to drive the vehicle for him.
However, police said he will be banned from driving in France, unless he has a valid permit from another country.
A little more than a year earlier, highway police caught another Swiss resident, a citizen of France, in an Audi A8 travelling at 258 km/h in the same section of the A6 motorway.