Hot Wheels: Micro Racers is a top down racing game based on Mattel's toy car franchise. The game is similar to Ignition, a previous racing game by developer UDS. The player can pick from seven different Hot Wheels cars and race against AI or human players on three different race tracks. Two cars are available from the start and the rest have to be unlocked by achieving different goals. These objectives involve completing championships and finding secret areas. The tracks have hazards and obstacles that the player has to watch out for and there are different road surfaces that affects the handling of the car. To get an extra boost the player can use turbos or super turbos that are only found in secret areas.
There are three different game modes: single race, championship and pursue. Single race is for practice and allows the player to try out the different tracks without competition. In the championship the player competes against three AI-controlled cars with the goal of getting the fastest time. Winning the races is necessary to advance to the following stages. In the pursue mode the car in last place will explode at the end of each lap and the last player remaining wins the game.