Churning out 368kW from the 3.8-litre, twin-turbo V8, the GT3 edition misses out on the full 441kW available in the production car.
What the engine lacks is more than made up for by the drastically improved aerodynamics, handling, steering and brakes. It also gets a new six-speed sequential transmission, weighing 80kg less than the standard seven-speed unit.
As far as the interior goes, everything has been reduced to a minimum. There's only one race seat for the driver, and the cabin is bombarded with the huge race-specific roll cage system. The steering wheel has also been replaced by an F1-inspired flat top and bottom item, incorporating control buttons and carbon fibre shift paddles.
Andrew Kirkaldy, Racing Team Principal and Project Manager for McLaren GT, recently spoke about the car at its unveiling:
"Having been a customer of GT car manufacturers for many years, I'm delighted we are now able to offer a carbon chassis based GT3 car for £310,000 (around $478,950). There will be no hidden costs and we will work as hard as we can to support as many races as we can."
The McLaren MP4-12C GT3 will compete in a number of endurance races throughout the 2011 race calendar, including the 24 Hour event at Spa. It will also make an appearance at this year's Goodwood Festival of Speed. Take a look at the video below for some on-track footage.