The 22nd International 500-Mile Sweepstakes Race was held at the Indianapolis Motor Speedway on May 30, 1934. The winner was the number seven car driven by Bill Cummings, an Indianapolis native, at an average speed of 104.863 miles per hour. Cummings led for 57 laps total, including the last 26. Of the 33 cars that began the race, only 12 were running at the finish, although there were no crashes resulting in serious injuries. One serious incident involved George Bailey, whose car went over the outside wall, but resulted in only a broken wrist to the driver. The finish was the closest in the history of the race to that point, with second-place finisher Mauri Rose within 100 yards of Cummings at the finish (officially 27.25 seconds behind). Rose would also file a protest that Cummings had illegally gained ground during a "slow-down" period following a crash.

Cummings was accompanied by riding mechanic Earl Unversaw. The race was part of the 1934 AAA Championship Car season.

Ten-lap (25 mile) qualifying runs were utilized.

For 1934, riding mechanics were required.

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