Ferrari president Sergio Marchionne has increased the pressure on his team to win the championship within two years.
Ferrari last won the drivers' title in 2007 with Kimi Raikkonen. Their last constructors' title was in 2008.
Marchionne said: "If we were to somehow fail to win a title over a 10-year span, it would be a tragedy."
He also hinted at a potential Formula 1 entry by Alfa Romeo and criticised Red Bull's behaviour towards engine partners.
The remarks came in an interview with Italy's Gazzetta Dello Sport newspaper.
The 63-year-old said Ferrari's improved performance in 2015, when Sebastian Vettel won three races following a winless season in 2014, had "helped bring back credibility to the brand".
Alfa Romeo Return?
Marchionne is chief executive officer of the Fiat Group, which has both Ferrari and Alfa Romeo under its umbrella.
Alfa Romeo, which won the very first F1 world championship in 1950, last raced in F1 in the 1980s but Marchionne said he believed it could be time for the brand to return.
"In order to restore their name they must consider returning to Formula 1," he said.
"They would probably work with Ferrari."
He added: "Alfa Romeo are capable of making their own chassis, just like they are capable of making their own engine."
Red Bull Criticism
Ferrari last year held talks with Red Bull about supplying the former world champions with an engine for 2016 but these foundered when Ferrari said they could only supply a 2015 power-unit.
Red Bull were looking for a new partner following the collapse of their relationship with Renault, following the team's heavy criticisms of the French company.
Red Bull also failed to secure an engine supply from F1's other manufacturers, Mercedes and Honda, and have ended up continuing with Renault, although the engine will be branded a Tag Heuer.
Marchionne said: "People criticise me for not giving them an engine. I agree with people that say that Red Bull were too tough on their engine suppliers, but in the end this sport must continue.
"The important things is to have other large manufacturers enter the sport."