The circuit was opened in 1948 by the 9th Duke of Richmond and Gordon, who marked the occasion by driving a Bristol 400, then regarded as Britain's leading sporting saloon, around the track. The Revival's inaugural edition took place fifty years later, in 1998, with the explicit aim of reliving that postwar golden era. Some opposition arose to reintroducing competitive racing at the venue, but the Goodwood Supporters Association lobbied successfully to secure approval.
The meeting has grown into one of the world's most popular historic motorsport gatherings. A distinctive element is the period dress code observed by most attendees, reinforcing the immersive atmosphere. The circuit's layout has remained unchanged from its 1952 configuration, when a chicane was added; no subsequent modernization has taken place. No modern road vehicles are permitted within the circuit perimeter during the event weekend, with the sole exception of contemporary fire and rescue equipment.
The Revival's race schedule covers a wide range of machinery from the eligible era, including Formula One Grand Prix cars of the 1950s and 1960s, sports and GT cars, prototype racers, historic saloon cars, and the seldom-seen Formula Junior single-seaters. Many of these machines are driven by celebrated figures from both past and present generations of motorsport.
Drivers who have competed at the Revival include Stirling Moss, John Surtees, Jack Brabham, Phil Hill, Derek Bell, David Coulthard, Damon Hill, Gerhard Berger, Martin Brundle, Tom Kristensen, Bobby Rahal, Johnny Herbert, Jean Alesi, and Giacomo Agostini. Celebrities such as Chris Rea and Rowan Atkinson have also taken part; Atkinson raced in character as Mr. Bean during the 2009 event.
The meeting's schedule spans three days and includes several named trophy events.
The Stirling Moss Memorial Trophy, known prior to 2016 as the Kinrara Trophy, is a one-hour race for GT cars that competed before 1963. The Royal Automobile Club Tourist Trophy Celebration is a one-hour pro-am race for cars that raced in the Tourist Trophy when it was held at Goodwood, open to machines built before 1964. The St Mary's Trophy is a pro-am saloon car contest run over two 25-minute heats, with the result decided on aggregate. The Whitsun Trophy is a 20-minute race for prototype cars that would have been eligible through 1966. The Richmond and Gordon Trophies cater to 2.5-litre Grand Prix cars from the 1954 to 1960 period, run over 25 minutes. The Glover Trophy is a 20-minute race for 1.5-litre Formula One cars from 1961 to 1965. The Goodwood Trophy covers Grand Prix and Voiturette cars from the 1930 to 1951 era.
A separate event, the Settrington Cup, is a pedal car race for young children using Austin J40 models. The name derives from the subsidiary title of Lord Settrington, traditionally held by the son of the Duke of Richmond's heir.
Beyond the racing, the Revival's grounds feature theatrical recreations of period settings and displays of historic aircraft. The combination of period-correct vehicles on track, costumed spectators, and a circuit unchanged from its heyday gives the event a quality distinct from conventional historic racing meetings. Goodwood Circuit ranked alongside Silverstone as Britain's leading racing venue during its active years from 1948 to 1966, hosting Formula One Grands Prix, the Goodwood Nine Hours, and the Tourist Trophy sports car race before the circuit closed to top-level competition.