Hot Wheels Slot Car Racing brings the excitement of slot car tracks and vehicles to a virtual level by offering eight tracks and a dozen Hot Wheels cars. Compete against the computer or one human opponent using the keyboard or a pair of special Slot Car Controllers designed to plug into the PC game port.

As each of the tracks is mastered, an additional slot car is unlocked to add to the initial complement of four, with a special bonus car awarded for completing all eight tracks. Racing circuits include Space Race, Chaos City, Jungle Isle, Haunted Hill, Rattlesnake Raceway, Knight's Kingdom, Stoneage Speedway, and Wonderland Amusement Park.

Custom tracks, complete with curves, straight stretches, loops, dips, dives, and jumps, can be designed with the Trackbuilder module in the Hot Wheels Racing Lab. Both personal designs and randomized instant tracks can be constructed.