F1 Circus Special is a Formula 1 racing game. Players can choose between a world championship mode, which follows the path of one driver through the game's available courses in a linear fashion; a test drive mode, which allows players to choose any course as well as change rules and conditions (e.g. the amount of damage inflicted); and a time attack mode for competing against each other.

There are twenty courses altogether in the game. The cars are modeled after real ones, their brand names slightly changed for copyright reasons. It is possible to customize brakes, tires, gears, wings, and other attributes of the car, or choose the "easy setting", which selects these parameters according to optimal speed or handling of the car. Digitized photos are used for driver portraits.