The FW41 was termed 'significantly different' to its predecessor, the FW40 on Thursday.
Claire Williams, deputy team principal, said: "I am thrilled to be back and launching our new car, for a new season, with a new, exciting driver line-up. For many months, the team have put a tremendous amount of effort into the FW41 and I'm eager to see both Lance and Sergey take to the track later this month.
The FW41 will take to the track for the first day of the Barcelona test on February 26 for eight days of testing which will conclude on March 9.
The F1 season begins with the first race in Melbourne on March 25.
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