The 1931 Italian Grand Prix was a Grand Prix motor race held at Monza on 24 May 1931.

The race was the first of three Grands Prix that were part of the inaugural European Championship.

The Alfa Romeo works team pairing of Giuseppe Campari and Tazio Nuvolari won the race, ahead of their teammates Ferdinando Minoia and Baconin Borzacchini in second, while third place went to the works Bugattis of Albert Divo and Guy Bouriat.

[1] Grid positions were allocated by drawing lots.

[1] Notes: