Race Result
| GP n. 33 - 17/01/1954 - Grand Prix of Argentina Autodromo Oscar Alferedo Galvez |
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| Winner: | Juan Manuel Fangio / Maserati - 3:00'55.8 | ||||||
| Pole Position: | Nino Farina / Ferrari - 1:44.8 | ||||||
| Fastest Lap: | Jose Froilan Gonzalez / Ferrari - 1:48.2 | ||||||
| Pos | Nš | Driver | Constructor | Laps | Time/Retired | Grid | Points |
| 1 | 2 |  Juan Manuel Fangio |
Maserati | 87 | 3:00'55.8 | 3 | 8 |
| 2 | 10 |  Nino Farina |
Ferrari | 87 | + 1'19.0 | 1 | 6 |
| 3 | 12 | Jose Froilan Gonzalez |
Ferrari | 87 | + 2'01.0 | 2 | 5 |
| 4 | 26 |  Maurice Trintignant |
Ferrari | 86 | + 1 lap | 5 | 3 |
| 5 | 20 | Elie Bayol |
Gordini | 85 | + 2 laps | 14 | 2 |
| 6 | 28 |  Harry Schell |
Maserati | 84 | + 3 laps | 10 | 0 |
| 7 | 8 |  Prince Bira |
Maserati | 83 | + 4 laps | 9 | 0 |
| 8 | 30 |  Toulo de Graffenried |
Maserati | 83 | + 4 laps | 12 | 0 |
| 9 | 16 | Umberto Maglioli |
Ferrari | 82 | + 5 laps | 11 | 0 |
| Dsq | 18 | Jean Behra |
Gordini | 61 | disqualified | 16 | 0 |
| Dsq | 14 |  Mike Hawthorn |
Ferrari | 52 | disqualified | 4 | 0 |
| Ret | 4 | Onofre Marimon |
Maserati | 48 | engine | 6 | 0 |
| Ret | 32 | Roberto Mieres |
Maserati | 37 | oil leak | 8 | 0 |
| Ret | 22 | Roger Loyer |
Gordini | 19 | oil pressure | 15 | 0 |
| Ret | 34 | Jorge Daponte |
Maserati | 19 | gearbox | 17 | 0 |
| Ret | 24 | Louis Rosier |
Ferrari | 1 | accident | 13 | 0 |
| Dns | 6 | Luigi Musso |
Maserati | did not start | 7 | 0 | |