yes it will and whether you choose a single-DIN or double-DIN receiver, you'll need a mounting bracket and a wiring adapter. You'll need to remove the DIN sleeve from the receiver, slide it into the opening in the receiver mounting bracket, then secure it to the bracket by bending the securing tabs. Slide the receiver all the way into the DIN sleeve, secure the rear support bracket (which will need to be adjusted up or down to engage properly) to the rear of the pocket/receiver assembly, and connect the receiver wiring adapter to the factory harness. Plug the antenna lead into the rear of the receiver, secure the assembly in the dash, then test operation and put your dash back together.
Tools needed: Panel tool, 7mm socket, socket wrench and extension, Phillips screwdriver
Note: If you hear a transient "pop" during turn-on/turn-off after you install a replacement receiver, it's probably because the Mustang's factory remote lead employs 5 volts, instead of the usual 12. To eliminate this pop, you'll need to install a 12-volt to 5-volt interface on the remote lead. The special adapter for your Mustang will accommodate this voltage conversion.