The Pit Stop Challenge is a single elimination, pit stop competition held two days before the Indianapolis 500 at the Indianapolis Motor Speedway in Speedway, Indiana and after the final practice session on Carb Day.^{[lower-alpha 1][1][2][3]} First held in 1977, the contest has pit crews compete head-to-head in single-round eliminations for three rounds. In each round they conduct a standard pit stop—switching all four tires on a racing vehicle and simulating refuelling via a fuel hose connection to the fuel tank—in the shortest possible time in a drag race-style event that happens in a specially constructed dual pit lane.^{[lower-alpha 2][3][5][6]} Each round commences with the green lights being illuminated to signal to both drivers who are lined up side-by-side to begin from a standing start.^[3][7] They enter the pit box and stop there before crossing the finish line, which is 200 ft (61 m) away, as fast as possible.^[3][4] During the competition, no fuel is used,^[8] and all pit stops must last for a minimum of three seconds.^[9] The time a team's car spends in its pit box determines the winner, and the fastest team in each pairing advances to the next round.^[5][6] Squads may be assessed time penalties if they exit their pit box with an incorrectly fitted tire, if pit crews or equipment leave their designated area, or if a driver runs over pit equipment such as an air hose.^[5][10]

Since 2017, the top two teams have competed in a three-round final. The team with the fastest time in the semi-finals gets to select their preferred lane for the final, and the team with the fastest time in the final gets to choose their favored lane for the third and deciding round.^[11] The tournament bracket is decided by a blind draw, and the top four teams receive a bye from the first round to the quarter-finals, with the remaining squads beginning in the first round.^[6][12] Contest participants are selected from IndyCar Series-registered teams and Indianapolis 500 entrants. Qualification for the contest is based on pit stop performance after the last Indianapolis 500, current season IndyCar entrant standings positions, and one-off Indianapolis 500 entries.^{[lower-alpha 3][13]} The winning team and driver share the winners' prize of $50,000 from $150,000 total prize money.^{[lower-alpha 4][22]} Each crew member receives pit lane equipment from prize donors at a Gasoline Alley giveaway as well as Jostens custom-designed rings.^[23][24]

The competition allows pit crews for the Indianapolis 500 to adjust their routines, practice to reduce errors, and become acquainted with their pit lane box.^[25][26] Past sponsors of the competition include Miller,^[27] Coors,^[28] Checkers/Rally's,^[29] McDonald's,^[30] Izod,^[31] TAG Heuer,^[11] and Ruoff Mortgage.^[13] It was canceled in 2008 due to rain,^[32] and all advertized prize monies were donated to charity;^[30] it was also canceled in both 2020 and 2021 because of the COVID-19 pandemic in Indiana.^[33] As of May 2023^[update], the record for the most victories is held by Team Penske with 18 wins since their first win in the 1981 final.^[34] Galles Racing are in second place with six wins, and Chip Ganassi Racing are third with four victories. Hélio Castroneves has the most victories among drivers, with eight, followed by Scott Dixon and Danny Sullivan with four wins each.^[22][35] Rick Rinaman has four wins, more than any other chief mechanic. Travis Law, Matt Jonsson, Owen Snyder, and Travis Law follow in second place with three victories each. The inaugural winner was Carrillo (Jim McElreath) in the 1977 final, while the most recent winner was Chip Ganassi Racing (Dixon) in the 2023 final.^[22][35]

• Ash, Russell (2010). "The 10 latest winners of the Indy 500 Pit Stop Challenge". Top 10 For Men: Over 250 Lists That Matter!. London, England: Hamlyn. ISBN 978-0-600-62070-9 – via Internet Archive.