F1 2021 will be Codemasters' first edition of the annual title since its acquisition by EA was completed earlier this year, and is set to be released on 16 July.
The game will feature Imola, Portimao and the new Jeddah street track, which will be "available to all players as free post-launch content" to allow gamers to complete the full 23-race scheduled currently planned for F1 this year.
The addition of Imola and Portimao comes after F1 2020 did not feature any of the new tracks that were added to the calendar in the wake of the COVID-19 pandemic, leading to fan calls for their introduction for F1 2021.
F1 2021 will also feature a new story mode called "Braking Point", which will see players "take on an epic journey" as they rise from Formula 2 into Formula 1.
The mode will "immerse players into the glamorous world of F1, giving a taste of the lifestyle both on and off the track: the rivalries, emotion and dedication needed to compete at the highest level." It will also re-introduce fictional rival Devon Butler, who appeared in F1 2019.
"Braking Point is an exciting innovation that has been years in the making," said franchise game director Lee Mather.
"We are proud to expand the game experience and allow players to live the highs and lows of life in Formula 1 both on and off the track. Braking Point transforms the game and puts players centre stage in the greatest racing spectacle on the planet."
The driver-manager My Team mode will return again for F1 2021, and will now feature at least seven classic drivers for the mode that will be unveiled at a later date.
Further additions to the game for 2021 include a new two-player career mode, allowing gamers to work through seasons with a friend online, and a real-season start for career mode that enables players to start the season at any time with the real-world points standings.
"We are creating more choice and new ways to play," said senior franchise director Paul Jeal. "Real-Season Start allows players to align their career to the F1 season. The addition of two-player Career brings new challenges to the iconic game mode.
"Players can now choose to play co-operatively and share in the success or compete and strive for personal glory."
F1 2021 will be available on on PlayStation 5 and Xbox Series X/S, making it the first F1 title available on the latest-generation platforms, as well as on PlayStation 4, Xbox One and PC.