The Falcon 9 Full Thrust (also called "F9FT", the "Falcon 9 v1.2", the "upgraded Falcon 9", and sometimes the "Falcon 9.2") is an upgraded Falcon 9 v1.1 with about 30% more performance to enable recovery attempts for each launch. To increase the energy stored in the limited size of the vehicle's tanks, the Falcon 9 Full Thrust vehicle features densified LOx (cooled to -206 degrees centigrade) and, to a lesser extent, RP-1. This results in more fuel being stored in the same vehicle, which keeps the size down and increases the stored energy.

The Falcon 9 Full Thrust also features an upgraded Merlin 1D, which is slightly more powerful than before. The Merlin 1D vacuum engine has been improved as well, providing slightly more efficiency with a larger engine bell.