F1's Sporting Regulations state that appeals over time penalties are not admissible. But there were suggestions in Montreal on Sunday night that should new evidence come to light surrounding the incident Ferrari could still have the decision reviewed, if stewards agreed.
"I don't think he could have done things differently, which is why we have decided to appeal the stewards' decision," said team boss Mattia Binotto in a statement.
Ferrari have not yet elaborated on their exact plans.
In 2018, Williams attempted to get a grid penalty for Sergey Sirotkin reviewed ahead of the Spanish GP but the case was thrown out as their evidence was deemed not to be new or significant. Like time penalties, grid penalties cannot ordinarily be contested.
Notification of any intention to appeal does not yet constitute a full appeal process. Ferrari have now given themselves 96 hours until Thursday to decide whether to proceed with an official challenge.
Binotto told reporters: "There was no intention in what [Vettel] did at all. He was still ahead and tried to keep his position on track, as simple as that.
"The crowd have their opinion today and not only the crowd, whoever you may ask. We are really disappointed what happened and there have been very similar situations in the past as well that have not been judged as today."
Ferrari: Vettel was the 'moral winner'
Vettel was handed the five-second penalty for forcing Lewis Hamilton off the track when rejoining the circuit after running over the grass at the Turn Three chicane. Stewards deemed Vettel's entry 'unsafe', but both the driver and Binotto strongly disagreed with the ruling.
After the race, the Ferrari boss told Sky Sports F1: "He stayed ahead the entire race, crossed the chequered flag first and for us he is the moral winner."
"We won today. We have been the fastest on track today and that's important."
Vettel was irate over the radio when told of the penalty and initially missed the usual top-three formalities in parc ferme after the race, before returning to switch the first and second position marker board in front of Hamilton's Mercedes.
"I wouldn't be happy sitting in the grandstands seeing that for 70 laps there was a fight on and then you blow the fight by a decision like that," an unhappy but calmer Vettel told reporters several hours after the race.
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