Born and raised in Pilar, Buenos Aires, Colapinto began competitive kart racing aged nine, winning several regional and national championships.

[6] Colapinto made his car racing debut in 2018, participating in the final round of the F4 Spanish Championship, driving for Drivex School.

[22] In a season dominated by Victor Martins and Caio Collet, Colapinto only returned to the podium during the fifth round in Zandvoort, but was still able to win once again in Spa-Francorchamps.

[36][37] He did likewise the following year at Valencia, but ended up signing for Van Amersfoort Racing instead for the 2022 season, partnering Rafael Villagómez and Reece Ushijima.

[44] After finishing ninth in the Barcelona feature race, Colapinto went scoreless during the Silverstone round as he was eliminated on the opening lap from a collision.

[56] At the opening Sakhir round, Colapinto qualified on reverse pole, but lost out to Pepe Martí in the sprint and he ended in second place.

[58] Qualifying seventh in Melbourne, Colapinto slowly climbed up the order, passing Sebastián Montoya on lap 6 to claim his first victory of the season.

[67] Qualifying seventh in Austria, Colapinto battled his way to the podium positions in the feature race, but a last lap contact with Montoya dropped him to fourth place.

[68] After qualifying ninth in Silverstone, Colapinto sat in third throughout the sprint race, but inherited the lead after Montoya and Barnard ahead collided.

From there, he won clinch his first win of the year, dedicating his victory to Dilano van 't Hoff who was killed in a fatal crash in FRECA.

[71] In Budapest, after qualifying fourth and making his way to seventh place in the sprint, Colapinto scored another feature race podium having overtook Leonardo Fornaroli on lap 9 for third.

[73] In the Monza season finale, he qualified on reverse pole and had a fierce battle with teammate Boya in the sprint race, but Colapinto won out and was able to take his second win of the campaign.

[78] However, he withdrew from the event last-minute due to a broken collarbone he sustained prior to the final F3 round, and was replaced by Dennis Hauger.

[79] In October 2023, MP Motorsport announced that they would promote Colapinto to their Formula 2 outfit for the final race in Yas Marina and the full 2024 season, replacing Jehan Daruvala.

[89] A slow start dropped him to third during the sprint, but quickly overcame Amaury Cordeel and later made a daring last lap pass on Paul Aron for the lead, which allowed Colapinto to claim his first F2 victory.

[96] In Austria, he qualified fourth and a heated battle in the sprint with teammate Hauger turned for the worse as Colapinto spun on the final lap, dropping him to 11th.

[98][99] Colapinto qualified fourth in Silverstone, and managed the wet weather during the sprint to finish fifth, which included a last-lap pass on Jak Crawford.

[101] In Hungary, Colapinto picked up more points in a tricky sprint race to finish fifth, but an unlucky Safety Car timing on Sunday left him dropping from sixth to 13th.

[104] Following his news of his promotion to Formula One with Williams Racing ahead of Monza, Colapinto vacated his seat at MP Motorsport and was replaced by Oliver Goethe.

[109] Colapinto made his Formula One free practice debut at the 2024 British Grand Prix, driving for Williams in the first session in place of Logan Sargeant.

[114] The following race in Azerbaijan, he qualified ninth and finished eighth, becoming the first Argentine to score points in Formula One since Carlos Reutemann at the 1982 South African Grand Prix.

[115] At the Singapore Grand Prix, he finished eleventh and received praise from Red Bull's Sergio Pérez for his defensive driving.

[120] Colapinto crashed out of the first qualifying session—delayed until Sunday by the FIA due to torrential rain—and qualified eighteenth for the Grand Prix,[121] starting sixteenth after grid penalties for Max Verstappen and Carlos Sainz Jr.[122] In the rain-affected race, Colapinto crashed out on lap 31 under safety car conditions, causing a red flag.

[121] In qualifying for the Las Vegas Grand Prix, Colapinto suffered a 50 g (490 m/s2; 1,600 ft/s2) impact with the barrier after crashing,[123] forcing him to start the race from the pitlane;[124] he finished fourteenth.

[126] After finishing eighteenth in the sprint, he qualified nineteenth for the main race before retiring following a lap one collision with Nico Hülkenberg and Esteban Ocon.

[127] Colapinto qualified nineteenth for the season-ending Abu Dhabi Grand Prix, ahead of debutant Jack Doohan,[128] and started last following a gearbox penalty.

[133][134] Although he did not win, Colapinto and his teammates Rui Andrade and John Falb achieved three podiums throughout the season, which placed them third in the LMP2 standings.

[137] He took his first endurance racing victory during the 4 Hours of Le Castellet, having secured his first ELMS podium prior to that at the Red Bull Ring.