The game was announced on July 31, 2014. Codemasters confirmed that the game would not be released on PlayStation 4 and Xbox One (eighth-generation consoles), and would not include the Classic Edition. It was released in October 2, 2014 in Japan, October 16 in Australia, October 17 in Europe and October 21 in North America. The music was composed by Ian Livingstone.
Mixed reviews were received for the absence of new features and changes of Career Mode compared to the previous games. The game even got criticised for the differing handling model between the different user inputs (gaming wheel and Xbox 360 controller). This is because of how the game creates a small racing rift between the two.
The game received a 4 out of 5 by Hardcore Gamer, who said "F1 2014 plays to its strengths and doesn't get bogged down with clutter. While classic F1 races can't be recreated this year, the career mode is a far more diverse and enjoyable experience. The racing action is more intense than ever before, leading this to be one of most enjoyable F1 games ever created."
As the game was designed before the announcement of the Autódromo José Carlos Pace's resurface, it still contains the original surface and pit lane. Also before the Autodromo Nazionale Monza's Parabolica run-off corner was asphalted, it still contains the original run-off surface.
In the game, the Williams FW36 car has the stripes and logo of Martini & Rossi replaced with darker blue and black stripes, due to the restrictions of advertising alcohol in a PEGI 3 rating. The drivers' crash helmets also have the stripes and logo removed from their livery.
In the game, the Force India VJM07 had all of its alcohol and brewery sponsors removed from the in-game car, but some of them were replaced by logos that did not actually sponsor on the car. Kingfisher was replaced by "Hi! Blitz" on the engine cover and "CineBlitz" on the rear wing and on the front wing endplates. Royal Challenge was replaced by Royal Challengers Bangalore and United Breweries was replaced with UBICS. Smirnoff was replaced with Sahara.