Sony's Formula One series is continued on the PS3 and this game is based on the 2006 season. The game modes feature Time Trial, Quick Race, Race Weekend, World Champion, Career and several online game modes. All official drivers, teams and circuits from the 2006 season are present. Numerous options and driving aids allow you to customise the experience to suit your skill and preferences - from arcade style, to full technical simulation.

Other improvements over the previous games in the series include high-definition graphics, full surround sound and support for the SIXAXIS controller. Players can choose to steer the cars by tilting the controller. Pitstops can be planned prior to the race and a safety car has been added to slow down the race when an accident occurs.