The 2006 Grand National (officially known as the John Smith's Grand National for sponsorship reasons) was the 159th official annual running of the Grand National steeplechase which took place at Aintree near Liverpool, England, on 8 April 2006 and attracted the maximum permitted field of forty competitors for total prize money of £689,360 including £399,140 to the winner.

11–1 Irish shot Numbersixvalverde, ridden by Niall Madden, won the race, ahead of 5–1 joint-favourite and the previous year's winner Hedgehunter in second place. The other joint-favourite, Clan Royal, was deemed third in a photo finish ahead of Nil Desperandum at 33–1. Nine of the forty runners completed the course, the fewest since 2001.

Clan Royal was the long-time ante-post favourite with the public on the back of finishing second in 2004 and being carried out while leading in 2005, as well as being partnered with champion jockey Tony McCoy. But significant money on race day went on the 2005 winner Hedgehunter who was again to be partnered by Ruby Walsh. The pair went off as joint-favourites while other popular choices among the public were Racing Post Chase winner Innox from France, Garvivonnian, the winner of the Becher Chase over one circuit of the National course five months earlier, 2005 Betfred Gold Cup winner Jack High, 2005 Irish Grand National winner Numbersixvalverde, and the grey Ross Comm, considered to have been underestimated in the handicap by 10 lbs.

There was one false start when Ross Comm tried to bite the tape as it went to rise. The runners were recalled and got away at the second attempt despite the calls from Conor O'Dwyer that his mount Native Upmanship was not ready, being left twenty lengths adrift at the start. Shotgun Willy led over the first fence which claimed Juveigneur, Whispered Secret, Tyneandthyneagain, last year's runner up Royal Auclair and the highly fancied Innox, while the fences leading to the sixth, Becher's Brook, also ended the hopes of Baron Windrush at the third, Ross Comm at the fourth and Ebony Light at the fifth, with Just in Debt failing to negotiate the famous sixth.

Shotgun Willy was headed at the Canal Turn by the tighter jump of Ballycassidy but it was Puntal who moved to the front at the ninth (Valentine's) and led the field back to the racecourse minus Le Duc who had unseated his rider back at the Turn.

Thirty of the original forty starters continued onto the racecourse to The Chair, where Jack High, Silver Birch and Heros Collonges all came to grief. Garvivonnian also blundered there and was pulled up before taking the next, the Water Jump, which marks the end of the first circuit.

Ballycassidy and Puntal had enjoyed a lead of about six lengths on the first circuit but the former began to draw away from the latter and the rest of the field on the run to Becher's for the second time. Behind, Lord of Illusion, Iris Royal, Shotgun Willy, Cornish Rebel, Le Roi Miguel, Direct Access and Amberleigh House all pulled up with Haut De Gamme falling at the 20th fence.

Becher's itself claimed tail-ender Sir Oj and the Foinavon fence saw the tiring First Gold unseat his rider, to leave sixteen runners still in the contest as the field turned at the Canal for the second time.