Vettel, who became F1's youngest World Champion with his title victory with Red Bull in 2010, has often been connected to Ferrari in the past.
Not only has the German admitted that racing for the Italian outfit would be "special" but now di Montezemolo has exposed he wants Vettel.
"Sebastian is fast, smart and young," he told Cologne tabloid Express. "Sooner or afterward he will be driving a red car."
The newspaper added that Ferrari are eager to have the German's services in 2012, teaming him up with Fernando Alonso as Felipe Massa's replacement.
Vettel, though, insists he is dedicated to Red Bull Racing: "I am a part of the Red Bull family."
However, even Red Bull team proprietor Dietrich Mateschitz admits his outfit could face a tough confront retaining the German in the face of the "dream" of racing for Ferrari.
"It's a once in a life-time dream to drive for Ferrari but we will make send-off a difficult decision for him," said Mateschitz.
"We have so far been also quick to agree. And he wants to win."
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