The competition was held on Saturday, 16 February 1952, at 3 p.m. Forty-one speed skaters from 14 nations competed.

(*) The record was set in a high altitude venue (more than 1000 metres above sea level) and on naturally frozen ice.

The current world record holder Yuri Sergeev did not compete as the Soviet Union did not participate in the Oslo Games, sending observers instead to prepare for the 1956 Winter Olympics.

Finn Helgesen did not receive a bronze medal because he was paired up with Arne Johansen and finished behind his opponent.

Jan Charisius and Lassi Parkkinen gave up after a fall.