"It is our clear aim to win a race," said the team's German driver Nick heidfeld at the presentation at BMW's Munich headquarters.
Team-mate Robert Kubica of Poland agreed: "Hopefully we can achieve a race win for our fans."
The F1.08 car has a distinct front wing and an additional rear wing. Technical chief Willy Rampf said the wings were necessary to give the new model stability after traction control, which stops the wheels from spinning, is outlawed for the 2008 season.
"This is the most beautiful car I have ever seen," said Heidfeld.
BMW motorsport boss Mario Theissen said: "The new car incorporates everything we have learnt over the past two and a half years. It marks a big step."
BMW hope for a first team win in the 2008 season which starts on March 16 in Australia. In 2009, they want to challenge the leading teams of Ferrari and McLaren-Mercedes for the world title.
"We are upbeat that it (the 2008 season) will be more than a fight between two teams," said Theissen.
BMW finished second in the constructors standings behind Ferrari last season after the disqualification of McLaren over a spying affair. Heidfeld was fifth in the drivers standings with two podium finishes and Kubica placed sixth.
First tests are scheduled for Tuesday in Jerez, Spain.
"I can hardly wait, I am very curious," said Heidfeld, who is the best German driver since the 2006 retirement of seven-time world champion Michael Schumacher.
Still vacant at the team is the position of test and reserve driver after the departure of German Timo Glock to Toyota. BMW said it aimed to announce the driver by the end of January.
By Jens Marx, dpa