Colapinto began karting at the age of nine, winning the Argentine Championship in 2016 (Pre-Junior class) and 2018 (Sudam class), and the Buenos Aires Regional Championship in 2016 (Pre-Junior class) and 2017 (Junior class). He moved to Italy alone at the age of fourteen to pursue his racing career. He won the karting exhibition race at the 2018 Summer Youth Olympics alongside María García Puig.
Colapinto debuted in car racing at the 2018 F4 Spanish Championship with Drivex School, finishing second in race three and winning the final race. His father sold his house to fund the season. In 2019, racing for FA Racing by Drivex for a full campaign, he won the title with ten poles, eleven wins, and thirteen podiums, finishing nearly 100 points ahead of his nearest rival.
In 2020, Colapinto joined MP Motorsport for the Formula Renault Eurocup, winning on debut at Monza and finishing third in the championship with 213.5 points across nine podiums. In parallel, he raced for Kiwi Motorsport in the 2020 Toyota Racing Series, winning at Hampton Downs and finishing third in the standings.
In 2021, Colapinto joined the Formula Regional European Championship with MP Motorsport. He achieved a double victory at the Red Bull Ring, though one win was stripped for track limits. Despite missing two rounds, he finished sixth in the standings.
In 2022, Colapinto signed for Van Amersfoort Racing, partnering Rafael Villagómez and Reece Ushijima. He secured two wins — at Sakhir and in the Monza season finale — and five podiums, finishing ninth with 76 points.
In 2023, he returned to MP Motorsport alongside Jonny Edgar and Mari Boya. He dedicated his Silverstone sprint win to Dilano van 't Hoff, who had been killed in a FRECA crash. He won again at the Monza season finale in a fierce battle with teammate Boya, ending the year fourth in the championship with 110 points.
Colapinto made his F2 debut with MP Motorsport at the 2023 Yas Marina finale, finishing 19th in the sprint and retiring from the feature race with a sensor issue. For 2024, he was partnered with Dennis Hauger. He scored his first F2 victory at the Imola round with a last-lap pass on Paul Aron. By the point of his mid-season Formula One promotion, he sat sixth in the F2 standings with 96 points.
Colapinto was announced as the replacement for Logan Sargeant at Williams following the Dutch Grand Prix, debuting at the 2024 Italian Grand Prix alongside Alexander Albon. He became the first Argentine to compete in Formula One since Gastón Mazzacane at the 2001 San Marino Grand Prix.
On debut at Monza he qualified eighteenth and finished twelfth. At Azerbaijan he qualified ninth and finished eighth — the first Argentine to score F1 points since Reutemann at the 1982 South African Grand Prix. At Singapore he received praise from Sergio Pérez for his defensive driving. He added another points finish at the United States Grand Prix, finishing tenth.
In Mexico City a post-race 10-second penalty (which did not affect his position) and two penalty points on his FIA Super Licence followed a collision with Liam Lawson. At the Las Vegas Grand Prix Colapinto suffered a 50 g impact with the barrier in qualifying, forcing him to start from the pitlane and finish fourteenth. Due to multiple accidents, he was required to use outdated car components at Qatar, where he retired after a lap-one collision with Nico Hülkenberg and Esteban Ocon. He also retired at the season-ending Abu Dhabi Grand Prix after a rear puncture on lap three, having collided with Oscar Piastri. He finished the season nineteenth with five championship points across nine Grands Prix, three behind teammate Albon.
Colapinto joined Alpine as a test and reserve driver for 2025 on a multi-year deal. Following the Miami Grand Prix, Jack Doohan was demoted to reserve driver and Colapinto was confirmed as a full-time race driver on a rotating basis from the Emilia Romagna Grand Prix. He achieved a season-best result of eleventh at the Dutch Grand Prix. His Alpine seat was confirmed to continue beyond the initial five-race window on a race-by-race basis before the Austrian Grand Prix.
Colapinto continues at Alpine alongside Pierre Gasly in 2026. At the Australian Grand Prix he made a split-second evasive manoeuvre at the start to avoid a stalled Liam Lawson, a move Mercedes driver George Russell described on social media as the "save of the season". Colapinto received a ten-second stop-and-go penalty for a start procedure infringement and finished fourteenth. At the Chinese Grand Prix he qualified twelfth and finished tenth, scoring his first point with Alpine; during the race he ran as high as second place.
In 2021 Colapinto raced for G-Drive Racing in the Asian Le Mans Series (LMP2) alongside Rui Andrade and John Falb, finishing third in the standings. He also raced for G-Drive in the European Le Mans Series alongside Nyck de Vries and Roman Rusinov, winning the 4 Hours of Le Castellet and finishing fourth overall in the standings. At Le Mans he finished seventh in the LMP2 category. He also made a last-minute stand-in appearance at the 24 Hours of Spa for Team WRT, replacing Stuart Hall; the team finished fourteenth.
Colapinto received his FIA Silver Categorisation in 2021, was upgraded to FIA Gold in 2022, and to FIA Platinum in 2025.
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