Scuderia Ambrosiana made an immediate impression in Italian and international racing. The team competed at the Targa Florio in 1937, 1938, and 1939, finishing second, third, and second in successive editions with Lurani, Cortese, and Villoresi sharing driving duties. Cortese entered the 1938 German Grand Prix under the Ambrosiana banner, finishing ninth. Among the cars fielded in the team's early period was a Maserati 4CS, which Villoresi and Lurani drove at the 1937 Mille Miglia in the team's debut season.
In the Italian post-war racing revival, Scuderia Ambrosiana fielded Cisitalia D46 cars in the 1947 Italian Championship for unsupercharged 1.5-litre single-seaters, entered under team president Eugenio Minetti and also driven by Franco Mosters. At the pre-championship Coppa Asti Spumante in May 1947, Mosters finished fourth and Minetti fifth in Ambrosiana D46s. At the first championship round at Vercelli on 1 June 1947, Mosters retired with a driver's illness. At the Circuito di Caracalla in Rome — the second round — the team's lineup included Alberto Ascari alongside Minetti, both retiring. The July race at Forlì drew no Ambrosiana entries but the Leghorn (Montenero) round in August 1947 brought the team back. In the Championship's final round at Venice, Ambrosiana-entered Cisitalias also participated.
Simultaneously in the wider 1947 Grand Prix season, Villoresi raced a Maserati 4CL for Scuderia Ambrosiana at several European events. At Reims in 1947, the team arrived for the first time with two cars, pairing Villoresi with Alberto Ascari in what was described in contemporary reporting as the quiet Grand Prix debut of "one of the fastest drivers in history." Poor pit organisation inherited from the team's predecessor Scuderia Milan was noted as a continuing characteristic. Later in 1947 Ambrosiana also entered Cisitalia D46 cars for drivers including Dorino Serafini at French races at Albi, where the D46s were outpaced by works Gordinis on the fast Gueux circuit.
Between 1950 and 1954 Scuderia Ambrosiana competed sporadically in the Formula One World Championship. The team entered cars at six events across three seasons, achieving five race starts. Their best result came on debut at the 1950 British Grand Prix, where David Hampshire drove a Maserati 4CL to ninth place. Also at that event David Murray retired a Maserati 4CLT/48. Reg Parnell retired at the 1950 French Grand Prix. In 1951, Murray contested the British Grand Prix (retired) and a DNS was recorded at the German Grand Prix. The team's final World Championship entry was at the 1954 British Grand Prix, where Parnell retired his Ferrari 500. No championship points were scored across the team's Formula One appearances.
Outside Formula One, Lurani and Giovanni Bracco entered the 1951 24 Hours of Le Mans with a Lancia Aurelia B20 under the Scuderia Ambrosiana banner, finishing twelfth overall. The team's activity in international racing wound down through the early 1950s. Other drivers associated with Ambrosiana across its active years include Tazio Nuvolari, Leslie Brooke, and Clemar Bucci. The 1954 British Grand Prix represented the team's final World Championship appearance.