F1ROC II: Race of Champions is the follow-up sequel to F1ROC: Race of Champions where the player can race to become a legend in Formula One racing, but first must have to go through three different tiers of racing in order to do so.

The player starts out in "Group C" in the lowest tier with less powerful cars and novice drivers. After winning the eight races of "Group C", the player is then transferred to F-3000 with more advance drivers and powerful cars. The player must win another eight tracks in this division to advance to the final division, the F-1 Grand Prix itself, with the most advanced cars and the most talented drivers and to win this series the player must compete in 16 tracks. If the player does well enough, they can return to the Grand Prix division the following year with the ability to choose a new car and sponsor.

The main gameplay is a basic racing game, but does not involve oval tracks such as NASCAR, but twisting and turning tracks where the player must use caution when turning on winding roads. Players can also qualify before races for a better starting spot and must make pit stops during races to replace fuel, tires and repair damage. The player can also win prize money for doing well in races to buy better parts and upgrades for their car to race better in future races. They must be careful, however, when combining parts to try and make a perfect handling car. If the player uses the wrong combination, they can have a car that handles well in turns, but is slow on long straightaways. Likewise, they can also become to fast and dangerous in turns, causing disastrous accidents.

It features a battery back-up to save games and stats and also features authentic Formula One cars such as the FW14B Williams, the McLaren MP4, the Benettion B192, the F92 Ferrari among many others and also has the entire 1992 F-1 racing season.