Formula one (F1) was nowadays the highest class of single auto racing, for using the most advanced technology to manufacture racecar, and compete under the strictest regulation of FIA. Under the intentional commercialized promotion of the F-1 events organizers, it has become one of the worldwide popular sport activities. The annual tour race between states had brought considerable economic benefits by hosting events, broadcast and fans consume. By 2010 there are total twelve teams and twenty four racecars, about two millions horsepower, racing on the field. This research will discuss the history of F-1, along with the origin of its name, the diverse of standers and regulations, hoping this research will help the populace to comprehend more about F-1 racing and to promote this activity as well.