The Lancair 360 is a development of the earlier 200, 235 and 320 series and has optional wingtip extensions that increase wingspan from 7.16 m (23 ft 5 in) to 8.3 m (27 ft 2 in).

Following the success of the Lancair 235 series, the manufacturer introduced a larger fuselage, increased flap effectiveness and a lengthened undercarriage with an oleo-pneumatic nose strut.