A vision system for a vehicle includes a forward facing camera having a forward field of view through the vehicle windshield and operable to capture image data for a plurality of driver assistance systems of the vehicle. The plurality of driver assistance systems of the vehicle includes a lane departure warning system of the vehicle and at least two other driver assistance systems. Responsive at least in part to processing by an image processor of captured image data, a lane of a road along which the vehicle is traveling may determined, an oncoming vehicle approaching the vehicle may be detected, lane markers of the road lane along which the equipped vehicle is traveling may be detected, road curvature information may be extracted, and/or a surface property of the road being travelled by the equipped vehicle may be detected.