The 11th International 500-Mile Sweepstakes Race was held at the Indianapolis Motor Speedway on Wednesday, May 30, 1923. After winning previously in 1921, Tommy Milton became the first multiple winner of the Indianapolis 500. Howdy Wilcox drove relief for Milton in laps 103–151. During the break, Milton had to have his hands bandaged due to blisters, and changed his shoes due to crimping of his toes.

Thomas Willard Milton was an American racing driver best known as the first two-time winner of the Indianapolis 500. In spite of having only one functional eye, Milton came to be known as one of the finest racers of his generation.