Along with a new EcoBoost twin-turbo V6 option, Ford is apparently preparing to offer the F-150 with the company’s secret 5.0-liter V8 “Coyote” engine. A bevy of F-150s were spotted by the folks at PickupTrucks.com, and the spy photographers were even able to get up close and under the hood to see the new V8 (pictured above).

This new engine will reportedly make around 400hp and 400 ft-lbs of torque and will be shared with the Mustang GT. Both the current 4.6-liter V8 and 5.4-liter V8 engines will be dropped from the Ford lineup, with the EcoBoost taking the place of the 4.6 and the Coyote replacing the 5.4L unit.

[Source: PickupTrucks.com]

With the V8′s of both the Camaro and Challenger far out-pacing the one found under the hood of the 2010 Mustang GT, it’s no surprise that rumors have begun about the return of the 5.0.

Several months ago we reported on a story that Ford’s Australian branch had confirmed a 5.0-liter V8 (code named “Coyote”) was in development.

Now the folks over at Car & Driver have evidence to support the theory that the 5.0 will return for 2011. While out at GingerMan Raceway in Michigan the C&D folks came across Ford engineers testing a more serious Track Pack than the one currently offered by Ford, which included a set of Pirelli P Zero Corsa r-compound tires – a step above the Pirellis currently offered. This led them to surmise that the added grip might be needed due to all the added horsepower.

The Coyote 5.0 V8 is rumored to make as much as 400hp and 400 ft-lbs of torque, a significant increase from the current output of 315h and 325 ft-lbs of torque.

[Source: Car & Driver]

Few engines have received the iconic status of the Ford Mustang’s 5.0. The motor disappeared in 1996 but now appears to be ready to make a comeback.

News of the return comes out of Australia where Ford Australia product development boss Russell Christophers has confirmed a new 5.0-liter V8 is currently undergoing development in the U.S.

In Australia the new engine, code named “Coyote,”  will replace a larger 5.4-liter unit in the Falcon, but it could likely be used in an upcoming Mustang.

With new emissions regulations in 2010, we aren’t likely to see the the engine before that. Most likely it would debut in the next Mustang several years from now, but Ford did set a precedent in ’96 when they replace the 5.0 with the 4.6-liter block mid-cycle.

The engine is rumored to make 402hp and 398 ft-lbs of torque.

[Source: Drive]