The 67th Indianapolis 500 was held at the Indianapolis Motor Speedway in Speedway, Indiana on Sunday, May 29, 1983. After finishing second three times (1977, 1978, 1980), winning the pole position twice (1977–1978), and being the fastest qualifier one additional time (1981), Tom Sneva finally shook his "bridesmaid" status and won his first Indianapolis 500.

In the final twenty laps, three-time winner Al Unser, Sr. was leading Tom Sneva, looking for his record-tying fourth Indy victory. His son, rookie Al Unser, Jr. was several laps down, but was running right behind his father. Al Jr. created a firestorm of controversy when it appeared he was blocking Sneva intentionally to aid his father. After several anxious laps, Sneva finally slipped by both Unsers, pulled away, and claimed his long-awaited first Indy victory.

Rookie Teo Fabi headlined time trials by winning the pole position, and on race day he led the first 23 laps. Fabi's day was short, however, as he dropped out with a bad fuel gasket. The effort earned him the rookie of the year award. Fabi would go on to win four races during the season and finish second to Unser, Sr. for the CART championship.

The 1983 Indy 500 ushered in a new era of civility and stability in the sport of Indy car racing. After four years of conflict and organizational disputes between USAC and CART, the two sanctioning bodies came to an amicable truce. The Indianapolis 500 would be sanctioned singly by USAC, and officially would be part of the ceremonial Gold Crown. However, the race was now recognized on the CART schedule, and counted towards the 1983 CART PPG Indy Car World Series points championship. The field for the Indy 500 going forward would consist primarily of CART-based teams, along with numerous one-off entries. This arrangement would remain in place through 1995.

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