The aim of this paper is to design the steering system of the formula racing car. This includes the designing of its main components in solidworks, its analysis by calculation and finite element simulation. Load acting on the wheels of formula car are calculated and input in the analysis wherever necessary. The cars steering rack is repositioned to avoid any collision with a-arms. The force acting on the bolts at tie rod, clevis and mounting bracket is found below its yield strength. The clevis attached at the end of the rack is subject to load and fatigue analysis in ANSYS and all results were found satisfactory. Similar analysis is done for rack arm at critical areas and its was found that region where the rack arm can withstand fluctuations ranging for almost whole life till failure. Later the whole steering system was split into three major components (Steering column assembly, steering rack assembly, Tie rod assemblies) and each component is designed separately in SolidWorks and then assembled into whole one. SKF SAKAC 10 M ends are selected rod ends for steering arm assembly allowing rigid force transfer between rack arms and upright assembly as well as vertical motion of wheel assembly in operation. In the assembly 6 x M8 and 4 x M10 exist with the associated washers and nuts. The universal joint connecting the two steering column was machined according to Australian standards with splines at both ends. Two splined steering columns was machined in order to complete the steering column assembly. In order to stop the clevis colliding with the steering with the rack on full lock and to restrict the steering of the vehicle two locking collars were manufactured.