Run since 1929, it is widely considered to be one of the most important and prestigious automobile races in the world,[1][2][3] and is one of the races—along with the Indianapolis 500 and the 24 Hours of Le Mans—that form the Triple Crown of Motorsport.

[5] The race is held on a narrow course laid out in the streets of Monaco, with many elevation changes and tight corners as well as the tunnel, making it one of the most demanding circuits in Formula One.

The principality's first Grand Prix was organised in 1929 by Antony Noghès, under the auspices of Prince Louis II, through the Automobile Club de Monaco (ACM), of which he was president.

[13] To attain full national status, Noghès proposed the creation of an automobile Grand Prix in the streets of Monte Carlo.

Starting fifteenth, Caracciola drove a fighting race, taking his SSK into the lead before wasting 4+1⁄2 minutes on refuelling and a tyre change to finish second.

[19] The race became a round of the new European Championship in 1936, when stormy weather and a broken oil line led to a series of crashes, eliminating the Mercedes-Benzes of Chiron, Fagioli, and von Brauchitsch, as well as Bernd Rosemeyer's Typ C for newcomer Auto Union; Rudolf Caracciola, proving the truth of his nickname, Regenmeister (Rainmaster), went on to win.

[25] In 1946, a new premier racing category, Grand Prix, was defined by the Fédération Internationale de l'Automobile (FIA), the successor of the AIACR, based on the pre-war voiturette class.

[28] The 1949 event was cancelled due to the death of Prince Louis II;[25] it was included in the new Formula One World Drivers' Championship the following year.

[29] The Monaco Grand Prix returned in 1955, again as part of the Formula One World Championship, and this would begin a streak of 64 consecutive years in which the race was held.

[30] In the 1955 race, Maurice Trintignant won in Monte Carlo for the first time and Chiron again scored points and at 56 became the oldest driver to compete in a Formula One Grand Prix.

Alain Prost then led until four laps from the end, when he spun off on the wet track, hit the barriers and lost a wheel, giving Riccardo Patrese the lead.

Jean-Marie Balestre, president of FISA, announced that the Monaco Grand Prix would not form part of the Formula One world championship in 1985.

His win was very popular with the people of Monaco, and when he was arrested on the Monday following the race for riding a motorcycle without wearing a helmet, he was released by the officers after they realised who he was.

However, with seven laps remaining, Mansell suffered a loose wheel nut and was forced into the pits, emerging behind Senna's McLaren-Honda, who was on worn tyres.

The pair duelled around Monaco for the final four laps but Mansell could find no way past, finishing just two-tenths of a second behind the Brazilian.

Senna had a poor start to the 1993 event, crashing in practice and qualifying 3rd behind pole-sitter Prost and the rising German star Michael Schumacher.

It came two weeks after the San Marino Grand Prix at Imola in which Austrian Roland Ratzenberger and Ayrton Senna both died in crashes on successive days.

In his appearance at the 2006 event, he attracted criticism when, while provisionally holding pole position and with the qualifying session drawing to a close, he stopped his car at the Rascasse hairpin, blocking the track and obliging competitors to slow down.

[58] Due to the COVID-19 pandemic, the FIA announced the 2020 Monaco Grand Prix's postponement, along with the two other races scheduled for May 2020, to help prevent the spread of the virus.

In 1929, La Vie Automobile magazine offered the opinion that "Any respectable traffic system would have covered the track with <> sign posts left, right and centre".

[75][76] Despite undergoing minor changes throughout its history, the circuit is largely unchanged since 1929 and remains widely regarded as the ultimate test of driving skills and mental strength.

If Monaco were not already an existing Grand Prix, it is unlikely that its street circuit would be permitted to host Formula One due to its short track length and concerns with safety and overtaking.

[79][80] Triple Formula One champion Nelson Piquet famously described racing at Monaco as "like riding a bicycle around your living room," illustrating the unique challenges posed by the circuit's narrow streets.

[39] There have been various ideas on how to give racers more opportunity to pass, and one of these is to extend the race track along the east side of Hercules harbor and add a second DRS zone.

[10] For many years, the numbers of cars admitted to Grands Prix was at the discretion of the race organisers – Monaco had the smallest grids, ostensibly because of its narrow and twisting track.

[94] The Monaco Grand Prix is widely considered to be one of the most important and prestigious automobile races in the world alongside the Indianapolis 500 and the 24 Hours of Le Mans.

As the two races take place on opposite sides of the Atlantic Ocean and form part of different championships, it is difficult for one driver to compete effectively in both during his career.

A large part of the principality's income comes from tourists attracted by the warm climate and the famous casino, but it is also a tax haven and is home to many millionaires, including several Formula One drivers.

[98] Monaco has produced four native Formula One drivers—Louis Chiron, André Testut, Olivier Beretta, and Charles Leclerc[99]—but its tax status has made it home to many drivers over the years, including Gilles Villeneuve and Ayrton Senna.

Big parties are held in the nightclubs on the Grand Prix weekend, and the Port Hercule fills up with party-goers joining in the celebrations.