The Shelby is a higher performance variant of the Ford Mustang built by Shelby American from 1965 to 1967, and Shelby Automotive from 1968 to 1970. For 1967, the GT 500 was added to the lineup, equipped with the 428 Police Interceptor. These later cars carried over few of the performance modifications of the 1965-66 GT350s, although they did feature more cosmetic changes.

In September 1967, production was moved to the A.O. Smith Company of Ionia, MI, under Ford control. Shelby American had substantially less involvement after this time.
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The 1967 Shelby Cobra is featured in the 2000 film Gone In Sixty Seconds as “Eleanor,” the holy grail of Memphis Raines\' car-jacking mission, and the Kenichi Sonoda manga Gunsmith Cats as the ride of main character Rally Vincent. In the sequel Gunsmith Cats Burst, the car is blown up by a bomb, whereupon Rally replaces it with a Mustang II King Cobra rather than a Shelby.