The Indy500 is often referred to as the "The Greatest Spectacle in Racing", and it lived up to it's title on Sunday, with a dramatic finish to the 200-lap race.
Sweden's Marcus Ericsson sealed the win from fifth on the grid, although things weren't made easy for the 31-year-old driver after red flags were waved late into the race.
A strong start for Ericsson gave him a good chance of battling for the lead, but the Chip Ganassi driver had to wait until lap 190 to reach the front, when rookie Jimmie Johnson made his final pit stop of the race.
With just 10 laps to go, Ericsson looked to be cruising to victory having opened up a 3.2s gap on second-placed Pato O'Ward.
However a trip into the barriers for Johnson on lap 194 threw the result back into the air, with red flags waved as a result of his crash in turn 2.
All cars pulled into the pits for an eight minute delay, with Ericsson agonisingly waiting to get back underway.
With the gap now closed by O'Ward, the duo shared a dramatic battle to the chequered flag. With just 0.4s between Ericsson and the Mexican driver heading into the final lap, the crowd at Indianapolis were on their feet.
However, Ericsson managed to defend his lead, and another crash in turn 2 - this time by Sage Karam triggered another caution which ended up lasting until the race conclusion.
After claiming his first ever Indy500 win, Ericsson rose to the top of the NTT INDYCAR SERIES standings with his third career victory, while also handing Chip Ganassi Racing their first winner at the event for 2012.
Following his victory, Ericsson said "I knew the Huski Chocolate car was fast enough, but it was still hard," Ericsson said. "I had to do everything there at the end to keep him behind. I can't believe it. I'm so happy."
When asked about his reaction to the late red flag, Ericsson replied "I couldn't believe it.
"You can never take anything for granted, and obviously there were still laps to go, and I was praying so hard it was not going to be another yellow, but I knew there was probably going to be one. It was hard to refocus, but I knew the car was amazing."
Runner-up O'Ward cut a frustrated figure after the race, and believed that Ericsson was ready to put him into a wall on their last lap battle.
"He was going to put me in the wall if I would have gone for it," O'Ward said. "We were alongside each other. It's frustrating. It's bittersweet. I'm so proud, but it definitely stinks."
Former Indy 500 winner Tony Kanaan finished third in the No. 1 American Legion Chip Ganassi Racing Honda, while Felix Rosenqvist placed fourth in the No. 7 Vuse Arrow McLaren SP. Alexander Rossi put on a masterful display, rising from 20th to finish fifth.