The 54-year-old 'X Factor' boss was impressed by the Eagle Speedster after watching TV personality Jeremy Clarkson drive the restored model in a recent episode of the popular show and decided to but it, reported Contactmusic.
Cowell, who is also a luxury car collector, posted a photo of himself on social networking site Twitter in which he is sitting behind the wheel of the classic car.
"I think this may be the most beautiful car in the world," he tweeted.
Paul Brace, technical director of Eagle, has revealed that Cowell personally reached out to the bosses of the England-based restoration company to ask about the car.
"He was over the moon when he saw it and we're looking forward to delivering it to him in the US, where he can enjoy it in the sunshine," Brace said.