Monaco Grand Prix is set in the 1997 season of Formula One racing, featuring 17 real-life tracks, teams, cars, and their drivers. Although not officially licensed by the actual teams, the game stays true to the spirit of F1 Racing Simulation. With a total of 22 camera views available, players can experience the game from various perspectives.
The gameplay in Monaco Grand Prix focuses on realistic racing physics and telemetry analysis. Players have eight different modes to compete in, including a new career mode where they start with a struggling team and must earn better rides by performing well. Other popular modes include Time Attack, full championships, and 50s retro racing. The game also features a track editor, allowing players to create their own tracks.