Dallara began designing and developing the F2/18 in late 2015, with an original intention to debut it in the 2017 season. Economic reasons delayed that debut by one year. The first chassis was assembled in May 2017, and the completed car was given a private shakedown at the Circuit de Nevers Magny-Cours in mid-July 2017. The car was built at Dallara's main factory in Varano de' Melegari, Parma, Italy.
On 27 August 2017, it was announced that the car would incorporate the Halo cockpit protection device — the wishbone-shaped frame mounted to the monocoque designed to deflect debris away from a driver's head — from its first season onwards. The completed car was publicly revealed at the Formula 2 race weekend at Monza on 31 August 2017.
The F2 2018 featured a lower nose, wider and lower rear wing, and a wider and more curved front wing compared with the GP2/11, bringing it aesthetically more in line with contemporary Formula One cars. The "shark fin" engine cover was retained but with a lowered profile. The car incorporated the Halo cockpit protection system from launch. A drag reduction system (DRS) rear wing flap was retained to assist overtaking. Most mechanical components were developed specifically for the new car, though tyres, fuel tank, and brakes were carried over from the GP2/11 to control costs.
The F2 2018 replaced the aging Mecachrome V8108, a 4.0-litre V8 naturally aspirated engine that had served since the GP2 Series' inaugural 2005 season. The new engine was a 3.4-litre V6 turbocharged direct-injection unit developed by Mecachrome Motorsport, designated the V634 Turbo. Van Der Lee Turbo Systems supplied the turbocharger kits for all V634T engines. The switch from natural aspiration to forced induction required drivers to adopt a more cautious throttle technique to manage the increased torque output.
Pirelli remained as the exclusive tyre supplier, continuing from the GP2/11 era. The F2 2018 initially retained traditional 13-inch wheel rims and tyre designs, but from 2020 onwards switched to 18-inch wheels to allow Pirelli to gather data on the larger-diameter tyres being introduced in Formula One from 2022.
The F2 2018's debut season was significantly troubled by a persistent stalling problem on the starting grid, traced to difficulty in finding the clutch bite point during launch. The issue was attributed to rewritten ECU software and a new throttle map. Several drivers stalled at race starts during the opening five rounds, prompting criticism from Artem Markelov, Lando Norris, and George Russell, among others. FIA race director Charlie Whiting monitored the situation closely. Formula 2 series organiser Bruno Michel acknowledged the problems while defending the decision to replace the GP2/11.
As a temporary measure, the series introduced rolling starts at selected rounds. A launch-control software update issued in June 2018 aimed at fixing the issue, alongside further reliability improvements. The stalling issue was not fully resolved across the season; at the final round in Abu Dhabi, Nicholas Latifi stalled on the grid and was struck by Arjun Maini, though both escaped unhurt.
The Dallara F2 2018 was involved in the only fatality to affect a Dallara GP2/F2 chassis when Anthoine Hubert lost his life in a crash during the 2019 Belgian Grand Prix support race at Spa-Francorchamps. The accident, which also seriously injured Juan Manuel Correa, prompted further safety discussions across the motorsport community.
For the production of the 2025 F1 film, several F2 2018 cars were modified by Mercedes Applied Science to simulate 2022-era Formula One cars. Wider and lengthened spacers were added to the chassis and Formula One-style bodywork was fitted to approximate the proportions of modern grand prix cars.
The F2 2018 was replaced from the 2024 Formula 2 season by the Dallara F2 2024, which incorporated 18-inch wheels as standard along with a new engine package. After retirement from Formula 2, at least one chassis was entered in the 2025 BOSS GP Series.
Despite its troubled introduction, the Dallara F2 2018 became the machinery on which a generation of future Formula One drivers refined their craft. Drivers including Lando Norris, George Russell, Charles Leclerc, Mick Schumacher, Oscar Piastri, Zhou Guanyu, and Nyck de Vries all used the F2 2018 to secure the FIA superlicence points necessary to graduate to Formula One. Its six-year service life and the quality of talent it nurtured cement its place as one of the most consequential junior formula cars of the modern era.