F1 24 was developed using Codemasters' proprietary Ego Engine, the same technology platform used for its predecessor. Development director Lee Mather stated that the team focused primarily on the career mode and handling model during production, with comparatively little attention given to AI behavior or graphical improvements. The soundtrack was composed by Ian Livingstone and electronic musician Lapalux.
The game holds the distinction of being the last entry in the series to support eighth-generation consoles, namely PlayStation 4 and Xbox One. Starting with its successor F1 25, the franchise moved exclusively to current-generation hardware.
F1 24 introduced a significantly reworked career mode in which players assume the roles of real Formula One drivers rather than a custom protagonist. The revamped system allows players to select from any of the twenty Formula One drivers on the 2024 grid, as well as current Formula 2 competitors and a roster of retired drivers. A new mid-race objective system tasks players with completing goals set by team engineers and sponsors during races, awarding additional experience points and rewards upon completion.
The F1 World hub mode, first introduced in F1 23 and itself an expansion of F1 22's F1 Life, received further development. A new Fanzone feature was added, allowing players to earn and contribute fan points to teams and drivers, competing against other fanzones across a season. Voiceovers recorded by real Formula One drivers were also incorporated into the game for the first time.
Notably absent from the roster were Oliver Bearman, Franco Colapinto, Liam Lawson, and Jack Doohan, despite each having deputised for injured or departing drivers during the 2024 season.
The Braking Point story mode, which had appeared in F1 2021 and returned in F1 23, was not continued in F1 24.
An announcement trailer was published on 27 February 2024 via the EA Sports F1 YouTube channel. The game launched on 31 May 2024 across Microsoft Windows, PlayStation 4, PlayStation 5, Xbox One, and Xbox Series X/S. Those who pre-ordered the Champions Edition received access three days early, from 28 May.
The standard edition cover art features Lewis Hamilton, Charles Leclerc, and Lando Norris — the same trio as on the F1 23 cover — alongside their respective 2024 machinery: the Mercedes W15, Ferrari SF-24, and McLaren MCL38. The inclusion of both drivers and their cars on the cover art marked the first time since F1 2018 that this combination had been used. The Champions Edition cover features Max Verstappen celebrating his grand chelem victory at the 2023 Spanish Grand Prix.
F1 24 received mixed to average reviews. Metacritic assigned the game a score of 72 out of 100, while OpenCritic placed it at 60 percent approval. Japanese publication Famitsu awarded a total of 32 out of 40, with each of four critics scoring the game 8 out of 10.
Critics broadly praised the revamped career mode and the continued expansion of the F1 World hub. The mid-race objective system drew mixed responses; Justin Towell of PC Gamer described the feature as "uncharacteristically messy." The new physics handling model divided opinion: IGN's Luke Reilly found cars "surprisingly simple to tame and get great drive out of corners," while Steve Boxer of The Guardian noted that players must "spend as much time looking after tyres as the real drivers do."
F1 24 represents a transitional moment in the franchise's hardware lifecycle, marking the end of the series' cross-generational era. Its career mode overhaul, though imperfect in execution, signaled a shift in design philosophy away from the custom driver creation approach that had defined earlier entries. As of release it was the most recent installment to retain PS4 and Xbox One support, with the series moving to current-generation-only platforms thereafter.