The race was the first run under the new 2006 qualifying rules, in which the one hour session is split into three 'knock out' parts. The first part eliminated Kimi Räikkönen (rear wishbone failure) and Ralf Schumacher, who was caught out by the red flag after Räikkönen's accident and failed to set a competitive time, as well as the MF1's and the two Super Aguris. The second part saw fewer surprises, with the expected runners lining up for the final top 10 part. The result was that the Ferraris swept the front row.
UK TV pundit Martin Brundle referred to the fuel credits used to represent the fuel used during qualifying as 'Tiger Tokens', referring to promotional points offered by the fuel company Esso in the United Kingdom.
Further down the field, Nick Heidfeld and Nico Rosberg touched at the first corner. Both men were significantly delayed, but recovered. Heidfeld's day continued to get worse, as an incident with David Coulthard was investigated after the race.
Juan Pablo Montoya finished 5th in his McLaren, having never been a threat throughout the race. It was a good day for Williams on a whole, as Mark Webber finished in 6th, while Rosberg was the surprise of the race though, ending up a very respectable 7th, passing Christian Klien after catching him in the last few laps of the race, putting Klien down to a still impressive 8th. Rosberg set the fastest lap of the race, becoming the youngest driver ever to achieve this in a Grand Prix, breaking a record held by Alonso.
Honda suffered mixed fortunes throughout the race. Early on fans were treated to a fight between Rubens Barrichello and Jenson Button, as Button slipped down the order due to a slow getaway. Button eventually fought his way back up, twice passing Juan Pablo Montoya at the end of the straight but losing out again in pitstops. He eventually finished 4th, 0.6 seconds behind Räikkönen in 3rd. Räikkönen fought hard throughout the race, stopping only once on his way to the last podium spot. He rose 19 places in the race which is more than any driver since Fabrizio Barbazza started 25th and finished sixth in the 1993 San Marino Grand Prix.
At the second set of pit stops, Alonso was able to take advantage of staying out longer than Schumacher by coming out of the pit lane side by side with Schumacher. As they came into the first corner both cars were neck and neck, but Alonso was able to pull out in front of the former world champion. Despite coming under heavy pressure from Schumacher towards the end, the reigning champion started of the season with a well earned victory.
After a tussle with David Coulthard, Nick Heidfeld was reprimanded by stewards post-race for positioning his car in a way that forced Coulthard off the race circuit. Coulthard suffered engine failure on cool-down lap and received a 10-place grid penalty for 2006 Malaysian Grand Prix.
This was the first race for the Midland, BMW Sauber, Toro Rosso, Honda F1 and Super Aguri teams, although only Super Aguri was a completely new team, the others all representing buyouts or rebrandings of existing teams.
| Constructor | Nat | Driver |
|---|---|---|
| Williams-Cosworth | Alexander Wurz | |
| Honda | Anthony Davidson | |
| Red Bull-Ferrari | Robert Doornbos | |
| BMW Sauber | Robert Kubica | |
| MF1-Toyota | Markus Winkelhock | |
| Toro Rosso-Cosworth | Neel Jani | |
| Super Aguri-Honda | none |
| Pos | Nat | Name | Constructor | Part 3 | Part 2 | Part 1 |
|---|---|---|---|---|---|---|
| 1 | Michael Schumacher | Ferrari | 1:31.431 | 1:32.025 | 1:33.310 | |
| 2 | Felipe Massa | Ferrari | 1:31.478 | 1:32.014 | 1:33.579 | |
| 3 | Jenson Button | Honda | 1:31.549 | 1:32.025 | 1:32.603 | |
| 4 | Fernando Alonso | Renault | 1:31.702 | 1:31.215 | 1:32.433 | |
| 5 | Juan Pablo Montoya | McLaren-Mercedes | 1:32.164 | 1:31.487 | 1:33.233 | |
| 6 | Rubens Barrichello | Honda | 1:32.579 | 1:32.322 | 1:33.922 | |
| 7 | Mark Webber | Williams-Cosworth | 1:33.006 | 1:32.309 | 1:33.454 | |
| 8 | Christian Klien | Red Bull-Ferrari | 1:33.112 | 1:32.106 | 1:34.308 | |
| 9 | Giancarlo Fisichella | Renault | 1:33.496 | 1:31.831 | 1:32.934 | |
| 10 | Nick Heidfeld | BMW Sauber | 1:33.926 | 1:31.958 | 1:33.374 | |
| 11 | Jacques Villeneuve | BMW Sauber | 1:32.456 | 1:33.882 | ||
| 12 | Nico Rosberg | Williams-Cosworth | 1:32.620 | 1:32.945 | ||
| 13 | David Coulthard | Red Bull-Ferrari | 1:32.850 | 1:33.678 | ||
| 14 | Jarno Trulli | Toyota | 1:33.066 | 1:33.987 | ||
| 15 | Vitantonio Liuzzi | Toro Rosso-Cosworth | 1:33.416 | 1:34.439 | ||
| 16 | Scott Speed | Toro Rosso-Cosworth | 1:34.606 | 1:33.995 | ||
| 17 | Ralf Schumacher | Toyota | 1:34.702 | |||
| 18 | Christijan Albers | MF1-Toyota | 1:35.724 | |||
| 19 | Tiago Monteiro | MF1-Toyota | 1:35.900 | |||
| 20 | Takuma Sato | Super Aguri-Honda | 1:37.411 | |||
| 21 | Yuji Ide | Super Aguri-Honda | 1:40.270 | |||
| 22 | Kimi Räikkönen | McLaren-Mercedes | no time |
From :
| Pos | Driver | Points |
|---|---|---|
| 1 | Fernando Alonso | 10 |
| 2 | Michael Schumacher | 8 |
| 3 | Kimi Räikkönen | 6 |
| 4 | Jenson Button | 5 |
| 5 | Juan Pablo Montoya | 30 |
| Pos | Constructor | Points |
|---|---|---|
| 1 | Renault | 10 |
| 2 | McLaren–Mercedes | 10 |
| 3 | Ferrari | 8 |
| 4 | Honda | 5 |
| 5 | Williams–Cosworth | 5 |