After months of speculation, the title was confirmed by Formula 1, and is due for release next year.
Pitt, 60, was at Silverstone on Friday where he is filming scenes for the movie using an adapted Formula Two car that he drives on track between sessions involving other racing series.
The long-awaited movie was delayed by the United States actors' and writers' strike last year.
Hamilton has been involved in the script creation to ensure authenticity.
The film is being directed by Joseph Kosinski, who made Top Gun: Maverick.