F1 2021 arrived at a pivotal juncture for the franchise. EA's acquisition of Codemasters was finalised just months before the game's reveal in April 2021, making it the first title developed under the new corporate structure. The game also represents the last entry in the series to carry a four-digit year in its title, as subsequent entries adopted a two-digit naming convention starting with F1 22.
F1 2021 introduced several notable additions to the series. For the first time in career mode, two players could participate simultaneously, either as teammates or rivals on the same team. The My Team mode, introduced in F1 2020, returned with expanded Department Events: scenario-based decisions that test the player's management judgment and affect team development.
Seven legendary Formula One drivers were made available as selectable Icons in My Team: Ayrton Senna, Alain Prost, Michael Schumacher, Nico Rosberg, Jenson Button, David Coulthard, and Felipe Massa.
The game's track list reflected the 2021 calendar, with circuits for Imola, Portimao, and Jeddah added as free post-release updates. Several tracks hosted in real life — including Marina Bay, Melbourne, Montreal, and Suzuka — were retained in the game despite their cancellation from the 2021 season due to the COVID-19 pandemic. Losail and Istanbul, which did race in 2021, were not included.
Graphical upgrades for PlayStation 5, Xbox Series X/S, and PC included ray tracing support. Victory radio calls were also introduced for the first time in the series.
F1 2021 introduced Braking Point, a cinematic story mode spanning three in-game seasons: the end of the 2019 FIA Formula 2 Championship and the 2020 and 2021 Formula One seasons. It was the first such narrative mode in the F1 series and made F1 2021 only the fourth EA Sports title to feature a story mode, following Fight Night Champion, FIFA's The Journey, and Madden NFL's Longshot.
The player controls Aiden Jackson (voiced by Aiden Felgate), a British driver who wins the 2019 Formula 2 Championship with Carlin and graduates to Formula One. His teammate Casper Akkerman (voiced by Christopher Dane), a weathered veteran approaching retirement, serves as a foil — experienced and taciturn, drawing comparisons to Kimi Raikkonen's public persona. Devon Butler (voiced by Adam Sanderson), who previously appeared as an F2 rival in F1 2019, returns as the story's antagonist.
The narrative traces a deteriorating relationship between Jackson and Akkerman, manipulated behind the scenes by Butler, culminating in a season finale at Abu Dhabi where the two drivers reconcile and cooperate to deny Butler the result he needs. Five teams are selectable to host the player's career within the story: Racing Point (later Aston Martin), Scuderia AlphaTauri, Alfa Romeo Racing, Haas, and Williams.
F1 2021 received generally favorable reviews across all platforms according to Metacritic. Critics praised the handling model and the introduction of the Braking Point story mode, with particular commendation for the CGI quality, voice performances, and character writing.
The game was nominated for Best Sports/Racing Game at The Game Awards 2021 and for Racing Game of the Year at the 25th Annual D.I.C.E. Awards.