In 1961 the Corvette was still the only mass produced sports car manufactured in America. After 1957, Chevrolet decided to combine the comfort of a tourer with the ability of a competition sports car. The first Corvette to demonstrate this philosophy was the 1960 Corvette and these ideas grew and matured into the 1961 model. In their review of the 1961 Corvette 'Sports Car Illustrated' described the car as "one of the most remarkable marriages of touring comfort and violent performance we have ever enjoyed" reflecting Corvette's success in fulfilling this vision.

The styling for the 1961 Corvette was new; it did not have any 'teeth' in the grill and had four tail lights, a look which would become tradition. It had a new back-end shape that blended in seamlessly with the original body shape. The 1961 model was the first Corvette to have exhaust exits below the body, which angled outwards just behind the rear wheels instead of going through the bumper tips. The radiator and top tank were both aluminum and this tank, separated from the radiator, allowed for a more graceful hood slope. The 1961 Corvette had new upholstery with narrow ribbing, increasing the overall feeling of being in a true sports car but with a plush touring car interior.

Handling and performance were also improved on the 1961 Corvette. The car sat flatter than before, had a lower center of gravity and moderately stiff suspension for easy cornering. There were now five different engine options, all based on a 283 cubic inch displacement which, starting with a single four barrel carburetor engine giving 230 bhp, went up to a 315 bhp fuel injection, special camshift engine.

Production for the year 1961 was around 10,939. Of these, 954 were painted in the same color as the car in the Mathews Collection, the body Roman Red and the cove in white. 1961 was the last year contrasting cove color was available for the Corvette.