Giovinazzi began karting in 2000. He won the Italian National Trophy 60cc and Euro Trophy 60 championships in 2006, and the WSK Master Series in the KF2 class in both 2010 and 2011.
He moved to single-seater racing in 2012, winning the Formula Pilota China title in his debut season with six victories. That year he also raced for the BVM team at the final round of the Formula Abarth season at Monza as a guest driver — winning two races and finishing second in another, but ineligible for points.
In 2013, Giovinazzi joined the British Formula Three Championship with Double R Racing, alongside Sean Gelael and Tatiana Calderón. He won two races — at Silverstone and Spa-Francorchamps — and finished runner-up behind Jordan King. He also made his debut in the FIA Formula 3 European Championship that year, ending 15th with 45 points.
In 2014, he signed with Jagonya Ayam with Carlin for the FIA Formula 3 European Championship, recording two wins and seven podiums to finish sixth in the standings. He continued with the same team in 2015, losing the championship to Felix Rosenqvist by a narrow margin — finishing as runner-up with 412.5 points, six wins, and twenty podiums. His 2015 field included future Formula One drivers Charles Leclerc, Lance Stroll, George Russell, and Alexander Albon. During that season he won the Masters of Formula 3 from second on the grid.
At the 2015 Macau Grand Prix with Carlin, Giovinazzi caused a multi-car pile-up on the first lap of the qualifying race after colliding with Daniel Juncadella, received a 20-second penalty, but recovered to finish fourth in the main event.
In 2016, Giovinazzi joined Prema Powerteam for the GP2 Series alongside Pierre Gasly. In Baku he became the first driver to win both the feature and sprint races in a single weekend since Davide Valsecchi in 2012. He also won from the back of the grid at Monza after a safety-car mix-up, and took the championship lead at Sepang with his fifth win of the season. Gasly's victory in the Abu Dhabi feature race put him 12 points clear going into the final race; Giovinazzi finished ahead of Gasly in that race but could not overturn the deficit, losing the title by eight points.
On 5 September 2016 it was announced that Giovinazzi would perform simulator work for Scuderia Ferrari, and in December he was confirmed as Ferrari's reserve driver. He made his Formula One debut at the 2017 Australian Grand Prix for Sauber, substituting for the injured Pascal Wehrlein, finishing 12th — the first Italian to start a Formula One race since Jarno Trulli and Vitantonio Liuzzi at the 2011 Brazilian Grand Prix. He replaced Wehrlein again for the Chinese Grand Prix but retired after crashing in both qualifying and the race.
Throughout 2017, Giovinazzi participated in seven free practice sessions for Haas F1 Team. He remained a reserve and test driver for Sauber and Ferrari in 2018, taking part in six free practice sessions for Sauber.
Giovinazzi joined Alfa Romeo as a full-time driver for 2019, partnering Kimi Räikkönen and replacing Marcus Ericsson. He went eight races without scoring before finishing tenth at the Austrian Grand Prix — the first points finish for an Italian driver since Vitantonio Liuzzi's sixth at the 2010 Korean Grand Prix. He led the race for four laps at the Singapore Grand Prix — the first time an Alfa Romeo driver had led since Andrea de Cesaris at the 1983 Belgian Grand Prix. At the Brazilian Grand Prix, he crossed the line sixth and was promoted to fifth after Lewis Hamilton was penalised, his career-best result. He ended the season 17th with 14 points.
He and Räikkönen were retained for 2020. He scored points at Austria, and again at the Eifel and Emilia Romagna Grands Prix, finishing tenth each time. At the Belgian Grand Prix a stray wheel from his car hit the Williams of George Russell, retiring both drivers. He ended the season 17th with four points, matching Räikkönen's total but placed behind him on countback.
In 2021, his final full season in Formula One, he qualified tenth for the Monaco Grand Prix (his first Q3 of the year) and finished tenth, scoring Alfa Romeo's first point of the season. He also scored in Saudi Arabia. Alfa Romeo dropped him at the conclusion of the season, after which he returned to a primary reserve role at Ferrari, sharing duties with Mick Schumacher.
In 2016, Giovinazzi won the final two rounds of the Asian Le Mans Series in the LMP2 class alongside Sean Gelael at Buriram and Sepang. He also competed in a round of the European Le Mans Series for SMP Racing. In the FIA World Endurance Championship, he took part in the 2016 6 Hours of Fuji for Extreme Speed Motorsports alongside Gelael and Giedo van der Garde, finishing fourth in class.
In 2018, Giovinazzi drove a Ferrari 488 GTE for AF Corse at the 24 Hours of Le Mans, finishing fifth in the LMGTE Pro class alongside Toni Vilander and Pipo Derani.
On 10 January 2023, it was announced that Giovinazzi would drive the No. 51 Ferrari 499P LMH for Ferrari AF Corse alongside James Calado and Alessandro Pier Guidi, with the No. 50 car comprising Antonio Fuoco, Miguel Molina, and Nicklas Nielsen. He won the 2023 24 Hours of Le Mans — Ferrari's first top-class victory at the event in 50 years, 50 years after their last top-class entry in 1973.
In 2024, the No. 51 lineup retained their seats. The crew finished eighth in the drivers' championship with 59 points and a best finish of third at Le Mans. In 2025, Giovinazzi won the FIA World Endurance Championship title with Ferrari. In July 2025, he signed a multi-year deal to remain with Ferrari AF Corse for the 2026 season and beyond.
In 2015, Giovinazzi impressed Audi Sport Team Phoenix during a DTM test and was called up to replace the suspended Timo Scheider for the round at Moscow Raceway, finishing 19th and 21st.
Following his exit from Formula One, he drove for Dragon Penske Autosport in the 2021–22 Formula E World Championship alongside Sérgio Sette Câmara. He was ruled out of the final race in Seoul through a thumb injury and finished 23rd in the championship — the only full-time driver to score no points that season. He left as the team rebranded to DS Penske.
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