The 59th 500 Mile International Sweepstakes was held at the Indianapolis Motor Speedway in Speedway, Indiana on Sunday, May 25, 1975. A. J. Foyt started on the pole position and Bobby Unser won his second Indy 500.

On the 174th lap, a huge downpour pelted the Speedway, and officials immediately ended the race, just 26 laps short of the scheduled distance. Bobby Unser was leading the race at the red flag, and was declared the winner. Defending champion Johnny Rutherford was in second place, and pole-sitter A. J. Foyt came home third.

Dan Gurney, one of the founders of All American Racers, who finished second as a driver himself in 1968–1969, won his first and only Indy 500 as a car owner. Gurney's Eagle chassis itself scored its third "500" win.

Tom Sneva survived a spectacular crash in turn two on lap 125. His car touched wheels with Eldon Rasmussen, and flipped into the catch fence near the Turn Two Suites. The engine on Sneva's car ripped off in a huge fire-flash, and the car came to rest upright with Sneva trapped in the cockpit. Sneva miraculously suffered only minor injuries, and walked away from the wreck with assistance from the safety crews.

On the morning of the race, the Indianapolis Motor Speedway was ceremoniously designated to the National Register of Historic Places. In addition, the Hulman family celebrated thirty years of ownership of the facility.

A year earlier (1974), the race was held in the wake of the energy crisis. USAC cut out a week of practice, and trimmed time trials from four days to two days, in order to reduce energy consumption. These changes were well-received by competitors and fans, and USAC decided to make the reduction of practice time permanent; however, time trials were restored back to four days for 1975 and beyond.

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