The event was the 22nd time the Australian Grand Prix was held at the Melbourne Grand Prix Circuit. Following a revision of technical regulations for the 2017 season, the FIA mandated safety updates for all circuits on the calendar. In response, race organisers installed Tecpro barriers in run-off areas at the fastest sections of the track and re-profiled existing tyre barriers.
The 2016 race winner and reigning World Champion, Nico Rosberg, did not participate in the event following his retirement from the sport at the conclusion of the 2016 season.
Several changes occurred in the driver line-up prior to the race. Lance Stroll made his Formula One debut with Williams. While Stoffel Vandoorne and Esteban Ocon had previously competed in Grand Prix events, the 2017 Australian Grand Prix marked the start of their first full seasons in the sport for McLaren and Force India, respectively.
Following the first two practice sessions, Sauber driver Pascal Wehrlein withdrew from the event. Wehrlein had suffered a back injury during the Race of Champions in the winter pre-season. Despite being initially cleared to participate, he cited the physical demands of the new 2017-specification cars and a lack of pre-season running as reasons for his withdrawal. Antonio Giovinazzi replaced Wehrlein starting with the third free practice session, making his Formula One debut.
Pirelli provided three compounds for the race: ultrasoft, supersoft, and soft. Due to the selection deadline occurring before pre-season testing, Pirelli bypassed the usual individual team selections and allocated identical sets to every driver. Each driver received seven sets of ultrasoft, four sets of supersoft, and two sets of soft tyres.
Lewis Hamilton secured pole position for Mercedes, a result that matched Ayrton Senna's record of six pole positions in Australia. Daniel Ricciardo and Lance Stroll both incurred five-place grid penalties following unscheduled gearbox changes.
The race was contested over 57 laps. Daniel Ricciardo experienced a mechanical failure on the way to the grid, preventing him from taking his original starting position. He eventually joined the race from the pit lane on the second lap, though he later retired on lap 26.
Sebastian Vettel won the race after a direct competition with the Mercedes drivers. Lewis Hamilton, who finished second, lost time during the race while held up behind Max Verstappen. Verstappen later noted that he completed the race without a drinks bottle because the Red Bull team had neglected to install it in the car. Valtteri Bottas finished in third place, achieving a podium in his debut race for Mercedes.
The victory was Ferrari's first win in Australia since the 2007 edition of the race.
Following the first round of the 2017 season, the top five in the World Drivers' Championship standings were:
Sebastian Vettel (25 points)
Lewis Hamilton (18 points)
Valtteri Bottas (15 points)
Kimi Räikkönen (12 points)
Max Verstappen (10 points)
In the World Constructors' Championship, Ferrari led the standings with 37 points, followed by Mercedes with 33 points and Red Bull Racing with 10 points. Williams and Force India occupied the fourth and fifth positions with 8 and 7 points, respectively.
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