| 1 | 2 | 4 | Jim Rathmann | Watson • Offenhauser | 200 | 3:36:11.360 | 223.304 km/h | 8 |
| 2 | 3 | 1 | Rodger Ward | Watson • Offenhauser | 200 | +12.749 | +12.749 | 6 |
| 3 | 26 | 99 | Paul Goldsmith | Epperly • Offenhauser | 200 | +03:07.300 | +02:54.551 | 4 |
| 4 | 8 | 7 | Don Branson | Phillips • Offenhauser | 200 | +03:07.980 | +00.680 | 3 |
| 5 | 17 | 3 | Johnny Thomson | Lesovsky • Offenhauser | 200 | +03:11.350 | +03.370 | 2 |
| 6 | 7 | 22 | Eddie Johnson | Trevis • Offenhauser | 200 | +04:10.610 | +59.260 | 1 |
| 7 | 12 | 98 | Lloyd Ruby | Watson • Offenhauser | 200 | +04:28.590 | +17.980 | |
| 8 | 25 | 44 | Bob Veith | Meskowski • Offenhauser | 200 | +05:17.480 | +48.890 | |
| 9 | 28 | 18 | Bud Tingelstad | Trevis • Offenhauser | 200 | +08:19.910 | +03:02.430 | |
| 10 | 14 | 38 | Bob Christie | Kurtis Kraft • Offenhauser | 200 | +08:40.280 | +20.370 | |
| 11 | 22 | 27 | Red Amick | Epperly • Offenhauser | 200 | +11:10.580 | +02:30.300 | |
| 12 | 27 | 17 | Duane Carter | Kuzma • Offenhauser | 200 | +11:17.200 | +06.620 | |
| 13 | 31 | 39 | Bill Homeier | Kuzma • Offenhauser | 200 | +12:10.710 | +53.510 | |
| 14 | 24 | 48 | Gene Hartley | Kurtis Kraft • Offenhauser | 196 | +4 laps | | |
| 15 | 9 | 65 | Chuck Stevenson | Watson • Offenhauser | 196 | +4 laps | | |
| 16 | 21 | 14 | Bobby Grim | Meskowski • Offenhauser | 194 | +6 laps | | |
| 17 | 19 | 26 | Shorty Templeman | Kurtis Kraft • Offenhauser | 191 | +9 laps | | |
| 18 | 23 | 56 | Jim Hurtubise | Christensen • Offenhauser | 185 | connecting rod | | |
| 19 | 10 | 10 | Jimmy Bryan | Epperly • Offenhauser | 152 | fuel pump | | |
| 20 | 6 | 28 | Troy Ruttman | Watson • Offenhauser | 134 | rear axle | | |
| 21 | 1 | 6 | Eddie Sachs | Ewing • Offenhauser | 132 | magneto | | |
| 22 | 11 | 73 | Don Freeland | Kurtis Kraft • Offenhauser | 129 | magneto | | |
| 23 | 18 | 2 | Tony Bettenhausen | Watson • Offenhauser | 125 | connecting rod | | |
| 24 | 15 | 32 | Wayne Weiler | Epperly • Offenhauser | 103 | accident | | |
| 25 | 16 | 5 | AJ Foyt | Kurtis Kraft • Offenhauser | 90 | clutch | | |
| 26 | 29 | 46 | Eddie Russo | Kurtis Kraft • Offenhauser | 84 | accident | | |
| 27 | 13 | 8 | Johnny Boyd | Epperly • Offenhauser | 77 | engine | | |
| 28 | 20 | 37 | Gene Force | Kurtis Kraft • Offenhauser | 74 | brakes | | |
| 29 | 32 | 16 | Jim McWithey | Epperly • Offenhauser | 60 | brakes | | |
| 30 | 5 | 9 | Len Sutton | Watson • Offenhauser | 47 | engine | | |
| 31 | 4 | 97 | Dick Rathmann | Watson • Offenhauser | 42 | brakes | | |
| 32 | 30 | 76 | Al Herman | Ewing • Offenhauser | 34 | clutch | | |
| 33 | 33 | 23 | Dempsey Wilson | Kurtis Kraft • Offenhauser | 11 | magneto | | |
| DNQ | | 21 | Chuck Arnold | Gerhardt • Offenhauser | | | |
| DNQ | | 23 | Jimmy Daywalt | Kurtis Kraft • Offenhauser | | | |
| DNQ | | 25 | Jack Turner | Lesovsky • Offenhauser | | | |
| DNQ | | 35 | Al Keller | Kurtis Kraft • Offenhauser | | | |
| DNQ | | 39 | Norm Hall | Kuzma • Offenhauser | | | |
| DNQ | | 41 | Ebb Rose | Moore • Offenhauser | | | |
| DNQ | | 43 | Chuck Hulse | Kurtis Kraft • Offenhauser | | | |
| DNQ | | 52 | Jack Rounds | Lesovsky • Offenhauser | | | |
| DNQ | | 58 | Lee Drollinger | Kurtis Kraft • Offenhauser | | | |
| DNQ | | 61 | Bob Cleberg | Epperly • Offenhauser | | | |
| DNQ | | 43 | Chuck Hulse | Kurtis Kraft • Offenhauser | | | |
| DNQ | | 71 | Jim Packard | Kuzma • Offenhauser | | | |
| DNQ | | 79 | Russ Congdon | Kurtis Kraft • Offenhauser | | | |
| DNQ | | 89 | Chuck Rodee | Dunn • Offenhauser | | | |