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The game modes feature a championship, quick races, weekend and time trial modes. In the multiplayer section, the player can either go head-to-head in 2-player split screen sessions, or play a hot-seat time trial mode for up to 22 players.
All cars can be fine-tuned in the pits, and there is clear pit-to-car radio commentary. Full telemetry data is shown for detailed set-up changes. There is also an instant replay mode, including race highlights.
The game received "favorable" reviews on both platforms according to the review aggregation website GameRankings. Stephen Poole, writing for GameSpot, noted the relatively high performance requirements of the PC version, but called it "one of the best F1 racing sims to date". Ryan MacDonald, also of GameSpot, concluded that the PlayStation version was more enjoyable than other F1 games on the platform. Sam Bishop of IGN was more critical of the PlayStation version, citing a lack of in-race music and sluggish controls, and suggested that Formula One 99 was a superior title. In Japan, where the same console version was ported for release on 1 June 2000, Famitsu gave it a score of 28 out of 40.
^ Ellis, Keith "DNM" (1 June 2000). "F1 2000 (PSOne)". Eurogamer. Gamer Network. Archived from the original on 7 January 2001. Retrieved 19 January 2019.
^ MacDonald, Ryan (17 April 2000). "F1 2000 Review (PS)". GameSpot. CBS Interactive. Archived from the original on 6 July 2013. Retrieved 18 January 2019.
Shif, Gil Alexander (17 April 2000). "F1 2000 Review - PC". GameZone. Archived from the original on 23 March 2008. Retrieved 19 January 2019.