The E-BCNR33 (R33) was developed in 1995 as a successor to the R32 model. The engine in the R33 was nearly identical to the R32. It used the same turbochargers and the same specification for the manual gearbox, although the syncros were stronger. The engine corrected the R32's weak oil pump drive collar, which tended to fail in higher power applications, by using a wider collar. The base model R33 GT-R weighs 1,540 kg (3,395 lb).
 
The R33 GT-R launched in January 1995 with the base model GT-R and the V·Spec model. The V·Spec model weighed in 10 kg (22 lb) heavier, and had sportier suspension resulting in lower ground clearance. The V·Spec also featured the newer ATTESA E-TS Pro all wheel drive system, which included an Active Limited Slip differential. The V·Spec model also included a four-wheel independent channel anti-lock braking system.