His countryman Gheorghe Lichiardopol repeated as bronze medalist, becoming the third man to win multiple rapid fire pistol medals.

Between the two Romanians was Yevgeny Cherkasov with silver, earning the Soviet Union's first medal in the event.

[6] Five of the top 10 shooters from 1952 returned: two-time gold medalist Károly Takács of Hungary, silver medalist Szilárd Kun of Hungary, bronze medalist Gheorghe Lichiardopol of Romania, fifth-place finisher Pentti Linnosvuo of Finland, and tenth-place finisher Oscar Cervo of Argentina.

The reigning world champion was Soviet Nikolai Kalinichenko, who was not competing; second-place American William McMillan was also absent (failing to make the U.S. Olympic team after equipment failure at the trials), but third-place Finn Pentti Linnosvuo was in Melbourne.

The top four shooters in 1956 exceeded the Olympic record, with the fifth-place man equaling it.

Ștefan Petrescu ended with the new record, winning the event with 587 points.