Haas was the first American constructor to submit a Formula One entry after the failed US F1 project in 2010, and the first American team to compete since the unrelated Haas Lola outfit in the 1985 and 1986 seasons. Following the collapse of Marussia F1 during the 2014 season, Haas purchased the team's Banbury headquarters. The team approached Italian manufacturer Dallara to build their chassis with a power unit supplied by Ferrari. Haas confirmed their new car had passed mandatory FIA crash tests in January 2016 and shook the car down in December 2015 ahead of official pre-season testing at Barcelona.
Romain Grosjean and Esteban Gutiérrez drove for the team in 2016. At their debut at the Australian Grand Prix, Grosjean finished sixth, making Haas the first American constructor to score points in its debut F1 race. The team finished eighth in the Constructors' Championship with 29 points, all scored by Grosjean.
Kevin Magnussen joined in 2017 alongside Grosjean, with the team recording its first double points finish in Monaco. Haas again finished eighth in the Constructors' Championship. In 2018 the team unveiled the VF-18, which drew controversy due to its resemblance to Ferrari's 2017 car. Despite a difficult start — both cars retiring from Australia after pit stop failures — the team achieved its best combined result of fourth and fifth in Austria and finished fifth in the Constructors' Championship, their best to that point. Magnussen also scored Haas's first-ever fastest lap at the Singapore Grand Prix.
The team retained Grosjean and Magnussen for 2019 with Rich Energy as title sponsor, competing as Rich Energy Haas F1 Team. The VF-19 showed strong qualifying pace but suffered in races due to tyre wear. The title sponsorship descended into public dispute mid-season and was terminated in September. The team finished ninth with 28 points.
In 2020 Grosjean suffered a severe crash at the Bahrain Grand Prix, his car splitting in two and catching fire after a collision with Daniil Kvyat. Grosjean escaped with burns to his hands; he credited the halo device with saving his life. Pietro Fittipaldi drove in his place for the final two races. The team scored three points and finished ninth.
For 2021, both Grosjean and Magnussen departed. They were replaced by Nikita Mazepin and 2020 Formula 2 champion Mick Schumacher, son of seven-time world champion Michael Schumacher. Haas halted development of the 2021 car to focus resources on 2022. With Uralkali, a Russian potash producer, as title sponsor, the team scored zero points and finished tenth — their worst season since founding.
Following the Russian invasion of Ukraine, Haas terminated its deal with Uralkali and released Mazepin. Magnussen returned in his place. The VF-22, developed throughout 2021, proved competitive in the midfield. Magnussen and Schumacher scored points at the British Grand Prix — Schumacher's first-ever Formula One points — and Magnussen took the team's maiden pole position at the São Paulo Grand Prix in changing conditions. Haas finished eighth in the Constructors' Championship.
Nico Hülkenberg joined for 2023, partnering Magnussen, with MoneyGram as new title sponsor. Despite strong qualifying performances, the VF-23's high tyre wear limited race results. Hülkenberg's seventh place at the Australian Grand Prix was the team's best finish; Haas scored 12 points and finished tenth.
Steiner's contract was not renewed for 2024, with Ayao Komatsu appointed team principal on 10 January. The team scored 58 points, their highest total since 2018, and finished seventh. Magnussen received a one-race ban after accumulating twelve penalty points; reserve driver Oliver Bearman replaced him for the Azerbaijan Grand Prix. During the Dutch Grand Prix weekend, Dutch bailiffs entered the Haas paddock to valuate assets following a ruling that Haas owed US$9 million to former sponsor Uralkali; the payment was made by 26 August.
Hülkenberg and Magnussen both departed after 2024. Bearman joined as a full-time race driver alongside Esteban Ocon, who left Alpine after five seasons. Early 2025 results were difficult but improved from China onwards, where both drivers scored points. Bearman finished fourth in Mexico, the team's second fourth-place finish since entering the sport. Haas ended 2025 with 79 points, their best total yet, though they slipped from seventh to eighth in the Constructors' Championship as rivals scored more heavily.
For 2026, Haas retained Ocon and Bearman and signed former Alpine driver Jack Doohan as reserve driver. In December 2025, the MoneyGram title sponsorship was replaced by a deal with technical partner Toyota Gazoo Racing, with the team competing as TGR Haas F1 Team.
Haas's close technical relationship with Ferrari generated sustained debate in the paddock throughout the team's history. While praised for pioneering a low-cost model enabling a new entrant to compete at a respectable level, critics including Renault and McLaren raised concerns about the line between manufacturer partnership and satellite team status.