The game is based on the early 2006 Formula One World Championship. The AI will then try to seek opportunities to pass the player in a realistic manner. The AI system is called 'Live Action Racing' where one can pressure the opposition, causing them to make little mistakes such as running wide on corners, causing them to crash into other cars or spin off the road of their own accord. The game also boasts dynamic weather, and improved AI. Early in development the safety car was to be included in the game for the first time in an F1 game since Formula One 99 for the PlayStation but was removed before the final release along with the PSP wing mirror integration shown at E3. The main differences include the updated visuals for the PS3 including a lot more detail, Sixaxis compatibility, real time reflections, car reflections on wet circuits and new wet weather effects.
The game follows the basic structure of Formula One 06 for the PlayStation 2 and PlayStation Portable.