Hot Wheels Turbo Racing is a racing video game released for the Nintendo 64. The focus of the game is racing one of a selection of vehicles through various themed race tracks. Secret tracks can be unlocked by winning races and new cars can be used by finding 'Mystery Car' bonuses hidden in each track. Six vehicles participate in each race. The game features a total of 40 playable vehicles. Stunts can be executed by holding the directional pad or analog stick in certain directions while in mid-air to add to the turbo meter for increased speed.

As seen in the hint screens, using the controller to perform various stunts from jumping-off points gains 'Turbos' which allow short bursts of speed. The car in use will take damage based on running into obstacles or other cars. Power-up icons found around the track give various performance enhancements.