The G.50 saw its longest and most successful service in the two Finnish wars against the Soviet Union, the Winter War 1939-1940 and the Continuation War 1941-1944. Before the outbreak of hostilities, Finland ordered 35 Fiat G.50s at the end of 1939. The first 10 aircraft were to be delivered before February 1940, consequently a group of Finnish pilots arrived in Rome for a training course of 10 hours at Guidonia airport and later at Fiat Aviazione in Turin. On a training flight, Lieutenant Tapani Harmaja during a dive from 3,500 meters, reached an estimated speed of 780 km/h, considered excessive for the structural integrity of the aircraft (the windscreen was damaged in the process) Germany hindered the transit of the aircraft, consequently, the Fiats were disassembled and embarked in La Spezia on the Norwegian ship Braga, that set sail on 20 January, bound for Turku, Finland. Due to this delay the first Fiat fighters did not reach HLevLv 26 at Utti, until February 1940, too late to affect the course of the winter battles that year. The first kill was achivied on 26 February.
The Fiat fighters saw little action although on 27 February 1940, Lieutenant Malmivuo was the first Finnish pilot to be killed in a G.50 (FA.12), when his fighter crashed after a combat with Soviet aircraft. At this stage, Finnish pilots preferred the Hurricane, the French Morane-Saulnier M.S.406 and even the Brewster Buffalo to the Fiat G.50. Overall, HLeLv 26 archivied 11 kills vs one loss (plus another in a accident, as there were two Finnish pilots killed). Freccia's were numbered FA-1/FA-35, but it seems that only 33 were delivered (13 in February, 17 in March an one in June). The G.50s were taken from the 235 made by CMSA, both Serie I and Serie II aircraft but all had the open cockpit of the Serie II, a feature that Finnish pilots didn't like, especially in the winter. There were some attempts to improve the aircraft; one was tested with an enclosed cockpit, another with a D.XXI ski-undercarriage, but none of the modifications were accepted in service. Better protection for the propellers (with problems at extremely low temperatures) and few other changes were introduced. The speed of the Finnish G.50s was around 430–450 km/h, much lower than the standard series could achieve. The first demonstration of the Finnish Air Force's effectiveness came on 25 June 1941, thanks to the Fiat G.50 fighters from HLeLv 26, downing 13 out of 15 Soviet SB bombers. A total of 13 aerial victories were achieved, with Captain O. Ehrnrooth, Lieutenant Olli Puhakka and Sergeant L. Aaltonen being the most successful Fiat pilots with two victories each.
During the Continuation War, the Fiat fighters were most successful during the Finnish offensive of 1941, after that they became increasingly less effective. In 1941, the Fiat squadron, LLv 26, claimed 52 victories against the loss of only two fighters. The Soviets were able to bring better, newer fighter types into the front lines during 1942 and 1943, while the Fiats were becoming old and run-down, and the lack of spare parts meant that pilots were restricted to only a minimal number of sorties. Nevertheless, between 30 November 1939 and 4 September 1944, HLeLv 26's G.50s shot down 99 enemy aircraft, shooting down more modern aircraft, such as the British fighters sent to URSS. In the same period, Finnish squadrons lost 41 aircraft (12 were G.50s and 10 more lost flak and non combat causes), including Bulldog IIAs, Fokker D.XXIs, Gloster Gladiators and Brewster B-239s. The most successful Fiat G.50 fighter pilots were O. Tuominen (23 victories with G.50s), Capt Risto O. Puhakka (11), N. Trontti (six), O. Paronen (four), U. Nieminen (four) and L. Lautamäki (four). The Finnish Fiats were finally phased out of front line duty in summer 1944. They were not more than 10-12 and, even as trainers, they lasted not too long, since lacked spare parts. Differently than the older MS.406, there was no effort to change their engine making them better and faster, and probably at the end of the war they were already phased-out..