It will launch in North America on November 2 as well as other regions that month.
The game will also be released as a collector's edition with a diecast 1:43 Nissan GT-R Spec V, a key chain, a voucher for five DLC cars and a 300-page book for $99.99 (£68). European pricing has yet to be announced.
First revealed in 2006, the title will feature over 900 cars and courses from around the world, including Top Gear's Test Track.
The date was announced at Sony's press conference at E3 2010.