Rosenqvist began in single-seaters in Asia, winning the Formula Renault 2.0 Asia championship in 2008 and both the Formula Renault 2.0 Sweden and Formula Renault 2.0 NEZ titles in 2009. In 2010 he was fifth in the German Formula Three Championship with two wins, eight podiums, and one pole.
He moved to the Formula 3 Euro Series with Mucke Motorsport in 2011, finishing fifth in his debut season with one win and ten podiums, and won the Masters of Formula 3 that year. He was third in the 2012 FIA Formula 3 European Championship and second at the 2012 Macau Grand Prix. In 2013 he finished second in the European F3 Championship and won the Masters of Formula 3 for a second time from pole.
In 2014, Rosenqvist won the Macau Grand Prix from pole position ahead of teammate Lucas Auer.
In 2015, he moved to Prema Powerteam for the FIA Formula 3 European Championship and dominated the season: 13 wins, 24 podiums, and 17 pole positions, earning the title and establishing him as the most successful Formula 3 racer of all time by that measure. He also won the 2015 Macau Grand Prix from pole — his second consecutive Macau victory.
In August 2016, Rosenqvist was announced as a Mahindra Racing driver for the 2016-17 Formula E season, partnering Nick Heidfeld. He finished third in the championship, scoring his and the team's first Formula E victory at the 2017 Berlin ePrix. In the 2017-18 season he scored two wins and finished sixth. He raced in Formula E through the 2018-19 season opener before departing for IndyCar.
In 2016, Rosenqvist competed in ten Indy Lights races for Belardi Auto Racing, winning three times before clashing commitments brought the programme to an early close. He also raced in the DTM that year for Mercedes-Benz via ART Grand Prix, joining mid-season to replace Esteban Ocon. In the Blancpain GT Series Sprint Cup he scored a victory and finished second at the 2016 24 Hours of Spa. In 2017 he finished third in the Japanese Super Formula championship with Team LeMans, and raced Super GT with Team LeMans in 2018.
Rosenqvist joined Chip Ganassi Racing for the 2019 IndyCar Series season, finishing sixth in the championship and earning IndyCar Rookie of the Year honours. In 2020, remaining at Ganassi, he claimed his first IndyCar victory at Road America in the REV Group Grand Prix Race 2.
Rosenqvist moved to Arrow McLaren SP for 2021. In the first Detroit race of that season, a stuck throttle sent his car hard into the barriers on lap 28. He was hospitalised for evaluation but suffered no life-threatening injuries and returned to racing after missing two events. He remained with the team through 2023. In 2022, he scored his first podium for McLaren at Toronto and took two pole positions. In 2023 he took poles at Texas, the IMS Road Course, and Laguna Seca, with a best race finish of second at Portland.
On 5 September 2023, Rosenqvist was announced as the driver of the number 60 Honda for Meyer Shank Racing on a multi-year deal starting in 2024. At the 2024 Grand Prix of Long Beach he took pole position — the first IndyCar pole in Meyer Shank Racing's history. He finished the 2024 season twelfth in the championship.
In 2025 Rosenqvist improved substantially, sitting fourth in the standings after three races. He qualified fifth for the Indianapolis 500 after reaching the Firestone Fast Six, and finished fourth. He later finished second at Road America, equalling Meyer Shank Racing's best non-Indy 500 result. He ended the season sixth with 372 points.
In 2026, Rosenqvist won the Indianapolis 500, defeating David Malukas at the yard of bricks by 0.0233 seconds — the closest finish in the race's history.
Rosenqvist is widely regarded as a street circuit specialist, having won or taken poles at Macau, St. Petersburg, Toronto, Long Beach, Pau, and Norisring across his career. His qualifying speed has been a consistent feature in IndyCar, though converting pace into race victories was a recurring challenge before the 2026 Indy 500 broke through.
Rosenqvist became engaged in November 2023 and married Emille Sutt in Sweden on 24 September 2024.
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