A Limited Edition F1 2020 Steelbook will also be available in local markets via selected retailers.
The headline new addition to the game is the introduction of a team management mode, where gamers can create the 11th team on the grid.
Good news, racing games fans - Codemasters has announced the release date for F1 2020, along with a "major new game mode", the return of two-player split-screen, and "a host of new options" that will let you tinker with the game's challenge levels to suit your preferences.
This new option, alongside the series' exiting Career mode, will offer a greater level of flexibility in F1 2020, Codemasters explains, as it gives players a choice of three season lengths.
The two-player split-screen mode makes its return in F1 2020, Codemasters has also confirmed Formula Two content for F1 2020. These now includes the Hanoi Circuit and Circuit Zandvoort (neither of which are likely to see any actual racing in the real world).
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Players will also have the opportunity to get a hold of the "Schumacher Deluxe" edition of the game which will feature four of German's iconic cars, including the Jordan 191 in which he made his F1 debut.
The game will be released on Xbox One, PlayStation 4 and PC, as well as on Google Stadia for the first time.
"In the year where Lewis Hamilton is going for his seventh World Championship, we celebrate the greatest F1 ® driver of all time with our Michael Schumacher Deluxe Edition, which we know will prove popular with our community".
"F1® 2020 promises to be our biggest and most innovative title to date", said Paul Jeal, F1® Franchise Director at Codemasters. "The additions reduce both the difficulty and time barrier to entry while retaining the auto handling that our simulation players love".
The new management mode, called "My Team", allows players to act as managers of their own Formula 1 team.