| Circuit | Autódromo Juan y Oscar Gálvez |
|---|---|
| Date | 1954-01-17 |
| Round | 1 |
| Pos | Driver | Team | Grid | Laps | Time/Status | Fastest Lap | Pts |
|---|---|---|---|---|---|---|---|
| 1 | Juan Fangio | Maserati | 3 | 87 | 3:00:55.800 | — | 8 |
| 2 | Nino Farina | Ferrari | 1 | 87 | +1:19.000 | — | 6 |
| 3 | José Froilán González | Ferrari | 2 | 87 | +2:01.000 | — | 5 |
| 4 | Maurice Trintignant | Ferrari | 5 | 86 | +1 Lap | — | 3 |
| 5 | Élie Bayol | Gordini | 15 | 85 | +2 Laps | — | 2 |
| 6 | Harry Schell | Maserati | 11 | 84 | +3 Laps | — | 0 |
| 7 | Prince Bira | Maserati | 10 | 83 | +4 Laps | — | 0 |
| 8 | Toulo de Graffenried | Maserati | 13 | 83 | +4 Laps | — | 0 |
| 9 | Umberto Maglioli | Ferrari | 12 | 82 | +5 Laps | — | 0 |
| 10 | Jean Behra | Gordini | 17 | 61 | Disqualified | — | 0 |
| 11 | Mike Hawthorn | Ferrari | 4 | 52 | Disqualified | — | 0 |
| 12 | Onofre Marimón | Maserati | 6 | 48 | Engine | — | 0 |
| 13 | Roberto Mieres | Maserati | 8 | 37 | Oil leak | — | 0 |
| 14 | Roger Loyer | Gordini | 16 | 19 | Oil pressure | — | 0 |
| 15 | Jorge Daponte | Maserati | 18 | 19 | Gearbox | — | 0 |
| 16 | Louis Rosier | Ferrari | 14 | 1 | Accident | — | 0 |
| 17 | Luigi Musso | Maserati | 7 | 0 | Withdrew | — | 0 |
| 18 | Carlos Menditeguy | Maserati | 9 | 0 | Withdrew | — | 0 |