The brand new game mode sees players compete against F1's currently competing world champions.
Designed for quick play, competitors include Kimi Räikkönen, Lewis Hamilton, Jenson Button, Sebastian Vettel, Fernando Alonso and Michael Schumacher.
Each champion has a different race scenario, which must be successfully completed in order to unlock the next.
The first challenge, for example, sees players join the Spa Francorchamps Grand Prix as Kimi Räikkönen's teammate with three laps to go.
Having just pitted and competing against a pack driving on worn tyres, players must win the race, overtaking Räikkönen to complete the challenge.
'Champions Mode' will be playable at next week's Gamescom event in Cologne.
Copyright: CodemastersOfficially announced in March, F1 2012 is being developed for the PS3, Xbox 360 and PC.
In addition to the new rules, courses, drivers and vehicle specifications, this year's release contains a fully fledged tutorial mode.
Codemasters is also working on free browser game F1 Online, which entered open beta yesterday.
F1 2012, meanwhile, releases in September.
> Read our review of F1 2011 (PS3)
> Read our review of F1 2011 (Vita)
Watch a video for F1 2012 below: