It is thought the company would be investing some $50million a year in Ferrari.
The move is part of its commitment to raise the amount it spends on marketing and promoting diamonds to around 10 per cent of its sales.
The company will replace Vodafone on Ferrari cars at the end of next season after the world's largest mobile operator switched its sponsorship to McLaren-Mercedes.
De Beers, the world's largest diamond mining company, is still controlled by the Oppenheimer family and Nicky Oppenheimer became chairman in 1998.
It has set up a 50-50 joint venture with Louis Vuitton Moet Hennessy, each party investing $250million, to create an independently managed and operated retail chain using the De Beers brand.
A De Beers LV jewellery store opened in London in December 2002 and others have since followed in Japan, New York and Paris. The aim is for 100 stores around the world to sell De Beers-branded jewellery by 2012, reports GrandPrix.com
