The first Monaco GP was held in 1929, with Prince Louis II providing his backing for the staging of the event. At this track in particular, driver skill can overcome any shortcomings in the car, as evidenced by the six wins recorded by Senna between 1987-1993. Being a tight street circuit, it is virtually impossible to pass on this track unless the driver in front makes a mistake.

The circuit has witnessed some surprise results over the years, especially for French drivers, with Jean-Pierre Beltoise recording his only GP win there in a wet race in 1972. Olivier Panis achieved a memorable victory in the Monaco GP of 1996, having started from the middle of the grid in his Ligier. The track also saw the tragic death of Lorenzo Bandini, following an accident at the chicane in 1967.

The basic layout of the track has remained true to its 1929 roots, though several corners have been tightened to cut racing speeds. A tunnel was built beneath the Loews Hotel in 1973, affording spectacular views for the TV audiences. Safety continues to be a concern, and the track's facilities are notably inferior to those found at other F1 circuits. The authorities though are willing to bend a few rules in this case, with Monaco being the blue riband event on the F1 calendar.