While the test car spied here is wearing the regular 208's styling, the GTi game is given away by the dual exhaust tips poking out of the rear bumper.
Speaking with press at last year's Frankfurt Motor Show, Peugeot boss Jean-Marc Gales said that the new GTi will return to the model's roots, focusing on "precision, allure, style, driver control and excellence".
A revival of the popular 205 GTi's spirit could be on the cards.
Power for the new 208 GTi is expected to come from a down-rated version of the 147kW 1.6 litre turbo engine driving the Peugeot RCZ coupe - expect around 120 to 130kW.
According to Britain's Autocar magazine, a hotter "GTi Racing" could also be in the works, delivering the full 147kW.
When it hits showrooms later this year (look for a Frankfurt Motor Show debut in September), the 208 GTi will go head-to-head with the likes of Volkswagen's Polo GTI, Ford's Fiesta ST and its Citroen sibling, the 115kW DS3 DSport.