Launched in January 1995, the Nissan Skyline R33 GT-R is the successor to the highly successful and iconic R32 GT-R. The engine is similar to the R32's, with most of the major changes being chassis, aerodynamics and ATTESA E-TS four-wheel drive system related. Various weight saving and chassis strengthening measures were taken, and the center of gravity was improved. The front suspension geometry was changed slightly and a different Multi-link upper arm setup was used in the rear alongside far lower antisquat for acceleration grip and comfort. Like the R32, the R33 had a Multi-link setup on both axles.

The differentials were open front and mechanical rear in the standard R33 GT-R. In terms of aerodynamics, the excessive front lift of the R32 was decreased, and a new adjustable rear aerofoil and fixed spoiler were produced. Measures were also taken to lower the coefficient of drag, resulting in a CD of 0.35 with the wing at the horizontal, compared to the R32's 0.40. The frontal surface area however was enlarged.

Brakes were similar to the R32 V-spec Brembos and the HICAS rear wheel steering system was changed from hydraulic to electronic, improving the response time immensely. A yaw sensor was also added to the HICAS system. The R33 GT-R launched in standard and V-spec form, in addition to an N1 version for homologation purposes. The V-spec version of the R33 included a lower and stiffer spring and damper setup and featured an Active Limited Slip Differential in the rear, accompanying the improved ATTESA E-TS Pro four-wheel drive system along with faster sensors compared to the standard model.

The R33 GT-R had much higher performance than its predecessor and although it has been criticized for it's softer and more rounded appearance, longer wheelbase and milder handling characteristics, the R33 GT-R is respected as a worthy successor.

Boost restrictor has been removed.