From career-defining drives to track invaders, the British fans have been treated to plenty of spectacles over the years.
To get you in the mood for this week's action, Planet Sport has taken a look at five of the most memorable moments from seasons gone by.
Huge opening lap pile-up sends nine cars out of the race (1973)
Unlike most crashes that often occur on the opening lap, this one did not happen until the very end but it still became one of the most memorable in F1 history.
The race began with Ronnie Peterson and Jackie Stewart battling for the lead while the rest of the pack jostled for position behind, narrowly avoiding each other on occasion.
As the cars came towards Woodcote corner and the end of the first lap, Jody Scheckter tried to pass Denny Hulme but lost control of his McLaren and spun into the wall before bouncing back onto the track.
With little time to react, the drivers around him managed to avoid making further contact but as more and more cars arrived on the scene, that proved an impossible task.
A total of nine cars were caught up in the mess and the track became a wasteland of broken parts and detached rear wings.
Miraculously, given the rather loose safety measure at the time, only one driver was hurt as Andrea de Adamich broke his ankle following a head-on collision into the wall.
The race was immediately red flagged and the whole Grand Prix was restarted.
Peter Revson would go on to win but the crash was far more impactful with it being the last time that the original Silverstone layout was used and a chicane was added to Woodcote.
Magnificent Mansell overcomes 29-second deficit to win home GP (1987)
Nigel Mansell won the British Grand Prix four times in his career but the most memorable by far came in 1987.
Given the pace of the Williams car, it looked as if there were only two candidates for the race win that day in the form of Mansell and his team-mate Nelson Piquet.
But when Piquet started on pole, it seemed Mansell's hopes were fading every lap.
Realising his tyres were never going to last if he had any hope of catching Piquet, the Brit pitted in lap 35 for fresh ones. He emerged from the pit lane 29 seconds behind his team-mate and with an almighty task to do.
This task immediately looked almost insurmountable though as Piquet was matching Mansell even on his used tyres but once Mansell's wheels had got up to speed, he began one of the most memorable charges of his career.
He cut the distance between the two Williams with every passing lap until he was 7.6 seconds behind Piquet with 10 laps remaining.
The home British crowd sensed blood in the water and roared their man on until the cars arrived level with two laps left.
Mansell jinked one way before going the other and produced a late braking masterpiece to make the move stick.
Even as the race continued, Mansell was swarmed by fans on the track and was forced to leave his car and head to the safety of a nearby van but not before he passed the spot he made the overtake, bent down and kissed the tarmac.
The Grand Prix Priest invades the track (2003)
For an F1 driver, there are about a hundred things you need to concentrate on during a race but one of those is not usually a kilt-wearing priest running down the track. But that is what happened to Jarno Trulli as he exited Becketts corner in the 11th lap.
Neil Horan, who later became known as the Grand Prix Priest, was an Irish Roman Catholic priest who attended Silverstone in 2003 when he spotted an open gate leading out onto the track.
He took his opportunity and was seen running down the Hangar straight, a portion of the track where the cars are travelling at 200mph, holding a sign saying "Read the Bible. The Bible is always right."
The cars swerved to avoid the Irishman as the Safety Car was deployed to protect the invader. Horan ran off the track onto the grass before he was tackled by a safety marshal and promptly arrested.
He pleaded guilty to the charge of aggravated trespass and claimed he took the open gate as a sign of God, something the court did not look too favourably on considering he had the prepared sign with him.
Horan served two months in jail but it was not enough to deter him as a year later he disrupted the 2004 Athens Olympics marathon by shoving leader Vanderlei de Lima, causing him to slip to the bronze medal.
The Irishman was handed a 12 months' suspended sentence, fined €3,000 and was stripped of his priesthood.
Lewis Hamilton masters the wet weather to win (2008)
For his maiden British Grand Prix win, Hamilton produced a masterclass in driving in wet conditions.
Starting in P4, he made an excellent start to pull alongside team-mate Heikki Kovalainen at the front of the pack. The two battled until Hamilton passed Kovalainen at the very same corner Mansell had passed Piquet 21 years ago.
His McLaren team-mate would then go on to spin as the wet track proved perilous, leaving the Ferrari of Kimi Raikkonen as Hamilton's main opponent for the win.
The two fought until a crucial pit stop strategy gave Hamilton the edge. The future seven-time World Champion pitted for a new set of the intermediate wet tyres but his Ferrari counterpart only stopped to refuel, gambling that the track was drying.
The gamble failed and the heavens opened once more, forcing the Finn into the pit and seeing him drop to 11th.
From then on, it was just a case of keeping the car on the road for Hamilton and while plenty of others up and down the grid failed at this task, the young Brit did not.
He produced a controlled performance and one that belied his 23 years of age to win for the first time at a track he would one day have his name put to a portion of.
For the home fans, they were given their first taste up close of what Hamilton would go on to achieve and he did so during the season in which he won his first of a record-equalling seven World Championships.
Max Verstappen and Lewis Hamilton collide (2021)
If there was one moment that acted as the igniting of the fuse for the 2021 season, it was Silverstone.
After winning three of the first four races, Hamilton had looked to be disappearing into yet another title-winning sunset - but Red Bull hit back.
Max Verstappen won in Monaco, followed by a first win at the team for Sergio Perez. The Dutchman then put together a hat-trick of victories meaning that by the time the teams arrived at the famous British track, the Dutchman was 32 points ahead of Hamilton.
The tension was rising but while the drivers themselves kept largely quiet, the team bosses did not.
Christian Horner labelled Toto Wolff a "control freak" whilst his Mercedes counterpart sent out an ominous warning that Verstappen was "one DNF away" from being back in a title fight with Hamilton.
On an unusually hot British summer day, that tension spilled out onto the track.
Verstappen was on pole but a strong start from Hamilton meant they were side-by-side from the off. The Dutchman held his lead but the Mercedes driver was right on his gearbox.
The seven-time World Champion pulled narrowly ahead on the Wellington Straight but some late braking by Verstappen saw him retake the lead once more.
But then the close racing crossed the line.
Verstappen had the lead into Copse corner but Hamilton tried to send it down the inside. As he did so, he clipped the Red Bull rear right wheel and sent Verstappen flying off the track. The Dutchman collided with the wall at 150mph and endured a crash of 51G.
Hamilton was given a 10-second penalty but his speed advantage meant he cleared the field once more, going on to overtake race leader Charles Leclerc on lap 50.
Hamilton celebrated by raising a British flag above his head around the track while Horner complained of a lack of respect given Verstappen was being seen to in hospital.
It was not the first time the two had come together that season but proved to be the start of a fiery rivalry that would last up until the final lap of the final race in Abu Dhabi.