| Round | Race | Date | Circuit | Winner |
|---|---|---|---|---|
| 1 | Argentine Grand Prix | 1954-01-17 | Autódromo Juan y Oscar Gálvez Buenos Aires, Argentina | Juan Fangio (Maserati) |
| 2 | Indianapolis 500 | 1954-05-31 | Indianapolis Motor Speedway Indianapolis, USA | Bill Vukovich (Kurtis Kraft) |
| 3 | Belgian Grand Prix | 1954-06-20 | Circuit de Spa-Francorchamps Spa, Belgium | Juan Fangio (Maserati) |
| 4 | French Grand Prix | 1954-07-04 | Reims-Gueux Reims, France | Juan Fangio (Mercedes) |
| 5 | British Grand Prix | 1954-07-17 | Silverstone Circuit Silverstone, UK | José Froilán González (Ferrari) |
| 6 | German Grand Prix | 1954-08-01 | Nürburgring Nürburg, Germany | Juan Fangio (Mercedes) |
| 7 | Swiss Grand Prix | 1954-08-22 | Circuit Bremgarten Bern, Switzerland | Juan Fangio (Mercedes) |
| 8 | Italian Grand Prix | 1954-09-05 | Autodromo Nazionale di Monza Monza, Italy | Juan Fangio (Mercedes) |
| 9 | Spanish Grand Prix | 1954-10-24 | Circuit de Pedralbes Barcelona, Spain | Mike Hawthorn (Ferrari) |