The 74th Indianapolis 500 was held at the Indianapolis Motor Speedway in Speedway, Indiana on Sunday, May 27, 1990. Dutchman Arie Luyendyk took the lead with 32 laps to go, and earned his first-ever victory in championship-level competition. It was the second consecutive year the Indy 500 was won by a foreign-born competitor, the first time that had occurred since 1965–1966. Luyendyk completed the 500 miles at an average speed of 185.981 mph (299.307 km/h), a record that stood for 23 years until 2013. In reference to the long-standing speed record, the 1990 race had often been referred to as "The Fastest 500."

The Indianapolis Motor Speedway is a motor racing circuit located in Speedway, Indiana, an enclave suburb of Indianapolis, Indiana. It is the home of the Indianapolis 500 and the Brickyard 400 and formerly the home of the United States Grand Prix and Indianapolis motorcycle Grand Prix. It is located six miles (9.7 km) west of Downtown Indianapolis.