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The Jaguar XK120 was built between 1948 and 1954 and was Jaguar's first sports car succeeding the SS100. It was named the XK120 in reference to its top speed of 120 mph which made it the fastest production car in the world at that time. Initially launched as a concept car to show off Jaguar's new XK engine the XK120 became an immediate sensation and eventually Jaguar got convinced enough to put it into production.

It was originally conceived as a low-volume dream car and the first 200 cars were hand-built with aluminium panels. As demand continued to rise all successive XK120s were mass-produced with cheaper but heavier steel bodies as from 1950 model year. Although later models were much more comfortable it was the first 200 lightweight aluminium-body XK120s that were the most sought after.

Fixed-head coupé and drophead coupé models became available in 1952-53 featuring wood-veneered dashboards and door-caps. The drophead coupé (DHC) had a padded, lined canvas top, which folded onto the rear deck behind the seats when retracted while the roadster's lightweight canvas top and detachable sidescreens stowed out of sight behind the seats. The XK120 went on to become one of the most celebrated Jaguars. By the time production ended in 1954 a total of 12,064 units had been sold. It was succeeded by the XK140.