Mario Andretti, better known for his accomplishments in open-wheel and USAC competition, won his first and only NASCAR Grand National event, pulling away from 1965 winner Fred Lorenzen in the closing laps. He ran in a Holman-Moody Ford.[2] This is the only time a person born outside the United States has ever won the Daytona 500.

More than 94,000 people witnessed a 204-minute race where six cautions slowed the pace for a total of 54 laps. There were 36 lead changes among 9 drivers. Curtis Turner won the pole at a speed of 180.381 miles per hour or 290.295 kilometres per hour. Tiny Lund ran out of gas while trying to win the race. Six drivers failed to make the grid; including Don Biederman and Earl Brooks. Innes Ireland raced his final race ever when the V8 engine of his Dodge exploded outside the stands.