The CLK-GTR was developed for Mercedes-Benz’s GT1 racing program as a homologation special, made to satisfy regulations requiring a race car to be based on a roadgoing model with a minimum of 25 examples built. In total, 28 CLK-GTR Strassenversion (“road version”) cars were produced: 2 prototypes, 20 coupes, and 6 roadsters. Costing approximately $1.6 million, the CLK-GTR was the most expensive production car in history upon its introduction. The road cars closely mirrored their racing counterparts, sharing the same carbon-fiber monocoque chassis, suspension, and V-12 engine enlarged from 6.0 to 6.9 liters. The primary differences were its more civilized interior appointments, which were minimal by Mercedes-Benz road-car standards but not nearly as spartan as the racing variant.

The race-spec CLK-GTR won the FIA GT Championship in 1997 and again in 1998, although a V-8-powered variant, called the CLK-LM, contested the majority of the latter season after its debut at the 24 Hours of Le Mans.