Ford's new entrant has undergone a series of thorough straight-line tests known as VCAT (V8 Supercars Aerodynamic Testing) over a nine day period at Temora Airstrip in New South Wales, which was overseen by Supercars' technical department.
Click here to have your say on the state of Australian motorsport and go into the draw to win a Kincrome Tool Armour Workshop valued at $11,999.
The three models were subject to a program of runway testing which measures aerodynamics and downforce.
Aerodynamic components of the Mustang are then adjusted to equalise it to the two incumbent models.
“With the assistance of the incumbents it has been a very smooth process throughout,” said Supercars Sporting and Technical Director David Stuart.
DJR Team Penske managing director Ryan Story described the approval as a key milestone for the Mustang's development.
However, he admitted that his squad has plenty of work ahead to ensure the cars are ready for the 2019 season.
“The Mustang project has now been ongoing for over 18 months, so getting the tick of approval through the VCAT testing process is a great milestone,” said Story.
“That is only step one for us, however, as we must now get the race cars built and ready to perform for the 2019 season.
“We're very proud of Mustang in our first effort as Ford's Supercars homologation team and are very much looking forward to doing the ‘Blue Oval' proud in coming years.”
Supercars CEO Sean Seamer said the return of the iconic Ford muscle car after a three-decade absence was a significant moment for the sport.
“This is the final step in seeing the iconic Ford Mustang back on Australian race circuits, and we can't wait to see it in its full glory at the Adelaide 500 next year,” Seamer said.
“We thank the all of those involved in the homologation process, and the hard work they have put in to making happen, including incumbents Red Bull Holden Racing Team and Nissan Motorsport.
“DJR Team Penske, Tickford Racing and Ford Performance have done an outstanding job to build a Supercar which will no doubt continue Ford's successes of this year.”
The Mustang is expected to undergo pre-season tests early next year before its highly anticipated race debut at the Superloop Adelaide 500 from February 28 to March 3.