It is a street circuit designed to host the Vietnamese Grand Prix, a planned round of the Formula One World Championship.

[5] The Hanoi Circuit was originally expected to make its debut on the Formula One calendar in 2020 with the inaugural Vietnamese Grand Prix, but the race was cancelled in response to the COVID-19 pandemic.

[7] The circuit, going anticlockwise, was located next to the Mỹ Đình National Stadium and consisted of a temporary street section and a purpose-built layout that was intended to be open to the public once completed.

[10] The circuit has been closed to the public since the cancellation of the planned Grand Prix, with the exception of between 31 December 2022 and 1 January 2023, when it hosted a Honda promotional event.

[11][12] On 14 April 2024, the main straight was used as the venue for the 50th anniversary of the Mobile Police Command's Traditional Day parade.