Here's the tutorial on How to Record your PS4 Game on Elgato Game Capture HD.
PlayStation 4 (PS4): HDMI gameplay output will be supported
Sony has said that the PlayStation 4 (PS4) will eventually not have HDCP protection during gameplay, so it should work fine with Elgato Game Capture HD at that time.
This feature was not available when the PS4 launched - a downloadable update will be needed to allow gameplay to work via HDMI.
The 1.52 update for the PS4 does not have this feature - it will be in a future update.
According to the official PlayStation Blog:
Does PS4 support external HDMI-based game capture devices?
PS4 will allow the use of external HDMI-based capture devices following an upcoming system software update — please follow PlayStation.Blog and PlayStation.com for news following the launch of PS4.
http://blog.us.playstation.com/2013/10/30/ps4-the-ultimate-faq-north-america/#sect1
PlayStation 4 (PS4): General HDMI output
The PlayStation 4 has HDMI output.
Depending on what's on screen, content may be encrypted with HDCP (High-bandwidth Digital Content Protection). In that case, Elgato Game Capture HD will not be able to capture that content via HDMI.
If the output is not encrypted, then Elgato Game Capture HD should be able to capture content.
The PlayStation 4 uses HDCP protection when watching a purchased movie, or using Netflix or Hulu. Therefore,Elgato Game Capture HD won't be able to capture that content.
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