A driver assist system for a vehicle includes a camera disposed at a vehicle and having an exterior field of view relative to the vehicle, and a video display operable to display image data captured by the camera and viewable by the driver of the vehicle. The driver assist system is operable to detect objects present in the exterior field of view of the camera. The driver assist system is operable to provide a display intensity of displayed image data of at least about 200 candelas/sq. meter for viewing by the driver. The driver assist system is operable to provide a visual alert and an audible alert responsive to detection of an object exterior of the vehicle. The visual alert includes electronically generated indicia that overlay displayed image data and that at least one of (i) indicate distance to a detected object and (ii) highlight a detected object.