Born in Havering, London, and raised in Chelmsford, Essex, Bearman is the son of David and Terri Bearman, with a younger brother, Thomas, and a sister. His father is the founder and chief executive officer of the insurance firm Aventum Group. Bearman attended King Edward VI Grammar School in Chelmsford before moving to Modena, Italy, at the age of sixteen to join the Ferrari Driver Academy. He chose 87 as his permanent racing number, as it was the number he first used in kart racing.
Bearman began competitive kart racing at the age of seven, winning several national and continental titles. He transitioned to single-seaters in 2020, competing in the ADAC and Italian Formula 4 Championships with US Racing. He secured his first single-seater victory at the Hockenheimring in ADAC F4, finishing seventh overall in the championship. In Italian F4, he achieved a race win at Vallelunga, finishing tenth overall.
In 2021, driving for Van Amersfoort Racing, Bearman dominated both the Italian and German Formula 4 Championships. He won the Italian F4 Championship with eleven wins and 343 points, 111 ahead of his nearest rival, and secured the ADAC F4 Championship with six wins and 295 points, becoming the first driver to win two successive Formula 4 titles in one year. He was nominated for the Autosport BRDC Award and awarded the Henry Surtees Award in recognition of his success.
Alongside his F4 commitments, Bearman competed in the GB3 Championship with Fortec Motorsports in 2021, achieving a race win at Snetterton and a pole position at Silverstone), finishing 14th in the standings. In 2022, he participated in the Formula Regional Asian Championship with Mumbai Falcons, securing a podium finish at Dubai.
Bearman progressed to FIA Formula 3 in 2022 with Prema Racing, achieving eight podiums and one win, finishing third in the championship. He secured a first feature race podium at Silverstone), and further podiums in Austria and Hungary. He won his first race in the category at Spa-Francorchamps.
In 2023, Bearman joined Prema Racing in FIA Formula 2, finishing sixth in the championship with four wins. He achieved his maiden Formula 2 victory in Baku, winning both the sprint and feature races. He also won in Barcelona and Monza, and secured pole positions at Baku, Barcelona, and Spa-Francorchamps.
Bearman was named as a Ferrari Driver Academy member in 2022 and became a reserve driver for both Ferrari and Haas in 2024. He made his Formula One debut at the 2024 Saudi Arabian Grand Prix, substituting for Carlos Sainz Jr. after the latter was diagnosed with appendicitis, finishing seventh and earning Driver of the Day. He subsequently substituted for Kevin Magnussen at the Azerbaijan and São Paulo Grand Prix.
Bearman joined Haas as a full-time driver for the 2025 season, partnering Esteban Ocon. He secured points finishes at the Chinese, Japanese, and Bahrain Grands Prix, and achieved a fourth-place finish at the Mexico City Grand Prix. In 2026, he began the season strongly, finishing seventh in Australia and fifth in China.
In December 2024, Bearman participated in a Super Formula test at Suzuka), setting a competitive time before experiencing engine trouble. In July 2025, he set a new track record at a karting track in Varberg, Sweden.