The World Rapid Chess Championship is a chess tournament held to determine the world champion in chess played under rapid time controls. Prior to 2012, FIDE gave such recognition to a limited number of tournaments, with non-FIDE recognized tournaments annually naming a world rapid champion of their own. Since 2012, FIDE has held an annual joint rapid and blitz chess tournament and billed it as the World Rapid & Blitz Chess Championships. FIDE also holds the Women's World Rapid & Blitz Chess Championship. The current rapid world champion is grandmaster Magnus Carlsen. Anastasia Bodnaruk from Russia is the current women's rapid world champion. Carlsen has won the event a record five times.

Sven Magnus Øen Carlsen is a Norwegian chess grandmaster. He is a five-time World Chess Champion, the reigning five-time World Rapid Chess Champion, the reigning seven-time World Blitz Chess Champion, and the reigning Chess World Cup Champion. He has held the No. 1 position in the FIDE world chess rankings since 1 July 2011 and trails only Garry Kasparov in time spent as the highest-rated player in the world, while holding the record for longest consecutive reign. His peak rating of 2882 is the highest in history. He also holds the record for the longest unbeaten streak at an elite level in classical chess at 125 games.