Publisher System 3 is currently driving support for the game, due to arrive in spring this year.
The PS2 version will feature 50 different models of Ferrari and the full compliment of racetracks in the PS3 version.
A six-page preview of the title will appear in the issue of Official PlayStation 2 Magazine which goes on sale on Wednesday January 30th.
We want Ferrari Challenge Trofeo Pirelli to reach as many gamers as possible and the PS2 version is instrumental in achieving this,” said System 3 boss Mark Cale.
The team at Eutechnyx are doing an outstanding job in translating the exceptional features of the PS3 version, maintaining an excellent standard of visuals and incredible handling. We're confident that Ferrari Challenge will set the standard by which other PlayStation 2 racing titles will be judged.”