The recalled vehicles are all from the 1997-2003 model years with 7.3 liter diesel engines, including the Ford E-Series van, Excursion full-size sport utility vehicle, and F-450 Super Duty and F-550 Super Duty trucks.
The National Highway Traffic Safety Administration said in a posting on its Web site that the camshaft position sensor located on the engine could function intermittently and lead to an engine stall and potential crash.
The sensor is an electrical component that helps regulate the fuel going into the engine.
Ford spokesman Dan Jarvis said there have been 14 accidents associated with the problem, but no injuries reported.
In the event of an engine stall, Jarvis said drivers traveling at speeds greater than 30 miles per hour would have full power steering and power braking, allowing them to pull over to the side of the road.
At speeds below 30 mph, the motorists still would have braking and steering functions, he said.
Dealers will inspect the sensor and replace it with a new one free of charge. The recall is expected to begin around Dec. 17, with mailing of notification letters to be completed in phases by May 2008.
Owners can contact Ford at (866) 436-7332.