Race Results for the 1938 Indianapolis 500
| Finish | Start | Car Num. | Driver | Car Name/Entrant* | Make/Model | Status | Laps | Led | Winnings |
| 1 | 1 | 23 | Floyd Roberts | Burd Piston Ring | Wetteroth/Miller | 117.200 | 200 | 92 | $32,075 |
| 2 | 7 | 1 | Wilbur Shaw (W) | Shaw | Shaw/Offy | 115.580 | 200 | 0 | $14,425 |
| 3 | 5 | 3 | Chet Miller | I.B.E.W. | Summers/Offy | 114.946 | 200 | 0 | $7,350 |
| 4 | 6 | 2 | Ted Horn | Miller-Hartz | Wetteroth/Miller | 112.203 | 200 | 0 | $4,600 |
| 5 | 18 | 38 | Chet Gardner | Burd Piston Ring | Rigling/Offy | 110.311 | 200 | 0 | $4,100 |
| 6 | 14 | 54 | Herb Ardinger | Offenhauser | Miller-Ford/Offy | Running | 199 | 0 | $2,625 |
| 7 | 25 | 45 | Harry McQuinn | Marchese | Marchese/Miller | Running | 197 | 0 | $2,175 |
| 8 | 30 | 58 | Billy DeVore | P.R.&W. | Stevens/Offy | Running | 185 | 0 | $1,925 |
| 9 | 13 | 22 | Joel Thorne (R) | Thorne Engineering | Shaw/Offy | Running | 185 | 0 | $1,775 |
| 10 | 17 | 29 | Frank Wearne | Indiana Fur | Adams/Offy | Running | 181 | 0 | $1,650 |
| 11 | 33 | 43 | Duke Nalon (R) | Kohlert-Miller | Fengler/Miller | Running | 178 | 0 | $1,025 |
| 12 | 29 | 12 | George Bailey | Leon Duray Barbasol | Weil/Duray | Clutch | 166 | 0 | $825 |
| 13 | 9 | 27 | Mauri Rose | I.B.E.W. | Maserati/Maserati | Supercharger | 165 | 0 | $650 |
| 14 | 10 | 16 | Ronney Householder | Thorne-Sparks | Adams/Sparks | Supercharger | 154 | 0 | $695 |
| 15 | 15 | 6 | Jimmy Snyder | Sparks-Thorne | Adams/Sparks | Supercharger | 150 | 92 | $3,390 |
| 16 | 12 | 5 | Louis Meyer (W) | Bowes Seal Fast | Stevens/Winfield | Oil Pump | 149 | 0 | $635 |
| 17 | 4 | 17 | Tony Gulotta | Hamilton-Harris | Stevens/Offy | Rod | 130 | 0 | $680 |
| 18 | 22 | 55 | Al Miller | Domont's Pepsi-Cola | Miller/Miller | Clutch | 125 | 0 | $625 |
| 19 | 19 | 15 | George Connor | Marks Miller | Adams/Miller | Engine | 119 | 0 | $620 |
| 20 | 32 | 9 | Cliff Bergere | Kraft's Real Rye | Stevens/Miller | Piston | 111 | 0 | $615 |
| 21 | 31 | 33 | Henry Banks (R) | Detroit Sporting World | Miller/Voelker | Rod bearing | 109 | 0 | $610 |
| 22 | 21 | 35 | Kelly Petillo (W) | Petillo | Wetteroth/Offy | Camshaft | 100 | 0 | $955 |
| 23 | 24 | 21 | Louis Tomei | P.O.B. Perfect Seal | Miller/Miller | Rod | 88 | 0 | $625 |
| 24 | 16 | 7 | Bill Cummings (W) | I.B.E.W. | Miller/Miller | Radiator | 72 | 0 | $620 |
| 25 | 2 | 14 | Russ Snowberger | D-X | Snowberger/Miller | Rod | 56 | 0 | $640 |
| 26 | 8 | 34 | Babe Stapp | McCoy Auto Service | Weil/Miller | Valve | 54 | 0 | $585 |
| 27 | 26 | 10 | Tony Willman | Belanger | Stevens/Miller | Valve | 47 | 0 | $580 |
| 28 | 3 | 8 | Rex Mays | Alfa-Romeo | A.R.-Weil/Alfa-Romeo | Supercharger | 45 | 16 | $1,125 |
| 29 | 28 | 42 | Emil Andres | Elgin Piston Pin | Adams/Brisko | Accident | 45 | 0 | $620 |
| 30 | 27 | 37 | Ira Hall | Greenfield Super Service | Nowiak/Studebaker | Accident | 44 | 0 | $565 |
| 31 | 11 | 26 | Frank Brisko | Shur-Stop Mech. Brake Equal. | Stevens/Brisko | Oil line | 39 | 0 | $585 |
| 32 | 23 | 36 | Al Putnam (R) | Troy Tydol | Stevens/Miller | Crankshaft | 15 | 0 | $555 |
| 33 | 20 | 47 | Shorty Cantlon | Kamm's | Stevens/Miller | Supercharger | 13 | 0 | $550 |
* - complete car name/entrant data not available for all entries
(R) - Indicated Rookie
(W) - Indicates Past Winner










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