The impact attenuator is a safety component which is used to reduce the effects of frontal crash on driver, which can cause injuries. This article describes the design process of the impact attenuator with lightweight materials to satisfy the required weight reduction targets for Formula SAE racing car. This study is carried out as part of weight reduction studies on Formula SAE racing car. As a first step, the impact-absorbing structures and technical features were compared. In this step, it was decided to use EPP foam material with a density of 100 g/l as basic material to design a lightweight impact attenuator. Also, the design outlines of shape and analysis techniques for impact attenuator was defined in this step. Then, validation process was carried out for virtual model of 100 g/l EPP foam material. Foam material model was validated using reference study in literature. After model validation, a new impact attenuator was designed according to Formula SAE rules. It is 10% lighter than the standard model. The results show that selected EPP foam material can be used to design a lightweight impact attenuator for formula SAE race car to satisfy weight reduction requirements successfully.