Zaire, 15, could be seen on Wade's Snapchat Saturday, sitting in the driver's seat of the bright red luxury sports car.
"I'm a little nervous," Zaire said.
"A little nervous but it's all good," Wade said. "You getting it. Who wouldn't be nervous? You see what he driving."
Wade then let his son drive into his driveway and park the car.
"Come on bro," Wade said. "This is the ultimate trust right here. I'm allowing him to drive my Ferrari, with me outside the car. In my driveway though but you know what I mean."
In the short video clips, Wade shows off the Ferrari logo and also the model, which reads "GTC4Lusso" on the dash. The 2017 Ferrari GTC4Lusso costs at least $300,000.
The GTC4Lusso has a V12 powertrain engine and goes from 0 mph to 60 mph in 3.4 seconds. It has a maximum speed of 208 mph. The car has nearly 680 horsepower.
Despite rumors earlier this year about Wade buying his son a Ferrari, the future Hall of Famer denied making the purchase.
"Noooooooooooooooooooooo!! I trusted him to drive mine for a few blocks," Wade tweeted.
Wade, 35, has two other sons named Xavier and Zion. He has at least a decade until his next boy starts clamoring to drive a sports car.