The 28th International 500-Mile Sweepstakes Race was held at the Indianapolis Motor Speedway on May 30, 1940.

Shaw became the first driver in the history of the race to win in consecutive years.

It also marked Shaw's third win in four years, making him the second three-time winner of the race.

Shaw's average speed was 114.277 mph, slowed by rain which caused the last 50 laps to be run under caution.

This marked the only blemish on his noteworthy record of nine consecutive races completing every lap.