The 100HP edition is the sportiest Panda model. It has the 1.4-litre 16-valve FIRE petrol engine from the Fiat Punto tuned to develop 100 PS through a six-speed manual transmission. It differs from other Pandas by being equipped with 4-wheel disc brakes, tinted windows, and sports styled front and rear bumpers. The Panda 100HP features a unique suspension setup with modified springs, dampers, bushes and compliance giving a considerably firmer ride.

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The Panda 100HP offers 0–100 km/h acceleration in 9.5 s and a maximum speed of 185 km/h, with fuel consumption at 6.5 l/100 km in the EU combined cycle and 154 g/km of CO2 emissions. It was available in black, white, red, metallic blue, and metallic gray while a "Pandamonium Pack" which added red disc brakes, decals and colour-coded wing mirrors was an optional extra.

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Due to tightening emissions regulations, Fiat halted all Panda 100HP production in July 2010.