F1 Challenge (F-1 ライブ インフォメーション, F-1 Live Information) is an officially licensed Formula One game developed by Bell Corporation and produced by Sega for the Sega Saturn. The game contains only three of the many Formula One circuits – Hockenheim, Monte Carlo, and Suzuka – while having another three based on the fictional Neo City, containing three different configurations.

While containing a full license (granted by FOCA, not the FIA) of the 1995 Formula One racing season with 12 teams and 24 drivers (not including Simtek, who withdrew midway through the season), the game only allows the player to play as five drivers: Michael Schumacher (Benetton), Damon Hill (Williams), Jean Alesi (Ferrari), Ukyo Katayama (Tyrrell), and Mika Häkkinen (McLaren). The other teams and drivers are in the game and the cars are correctly modeled but are unselectable.