The 2023 FIA Formula One World Championship was a motor racing championship for Formula One cars and the 74th running of the Formula One World Championship. It was recognised by the Fédération Internationale de l'Automobile (FIA), the governing body of international motorsport, as the highest class of competition for open-wheel racing cars. The championship was contested over twenty-two Grands Prix, which were held around the world. It began in March and ended in November.

Drivers and teams competed for the titles of World Drivers' Champion and World Constructors' Champion respectively. The season was dominated by defending champion Max Verstappen, who cruised to his third consecutive Drivers' Championship title at the Qatar Grand Prix, winning a record 19 out of 22 Grands Prix held and finishing on the podium 21 times (also a record number for most podiums in a season) by the end of the championship. His team Red Bull Racing achieved their sixth Constructors' Championship title, their second consecutively, at the preceding Japanese Grand Prix. Red Bull Racing won 21 out of 22 Grands Prix, breaking the team record for highest percentage of Grand Prix wins in a season at 95.45%. Ferrari were the only other team to win a Grand Prix, courtesy of Carlos Sainz Jr. at the Singapore Grand Prix.

All teams competed with tyres supplied by Pirelli. Each team was required to enter two drivers per round, one for each of the two mandatory cars.

Throughout the season, each team had to field a driver in one of the first two free practice sessions who had not competed in more than two races, on two occasions, once for each car. The Grand Prix debuts of Oscar Piastri, Logan Sargeant and Nyck de Vries at the Bahrain Grand Prix each counted as one of the mandatory sessions for McLaren-Mercedes, Williams-Mercedes and AlphaTauri-Honda RBPT, respectively. Liam Lawson's debut at the Dutch Grand Prix did not count, as Nyck de Vries had already taken the mandatory free practice slot for that car.

Honda returned as a named engine supplier to Red Bull Racing and AlphaTauri, with both teams badging the engines as Honda RBPT. While Red Bull Powertrains had planned to take over assembly and maintenance of the engines from this season onward, it was later agreed that Honda would continue its technical support of Red Bull Racing and AlphaTauri until the end of 2025.

Sebastian Vettel retired from the sport at the end of the 2022 championship, ending his Formula One career after 15 full seasons. His place at Aston Martin was taken by Fernando Alonso, who left Alpine after two seasons. Alonso's replacement was initially announced as the 2021 Formula 2 Champion and Alpine reserve driver, Oscar Piastri. Shortly after this announcement, Piastri stated that he had not signed a contract for 2023 and that he would not be driving for Alpine. The FIA Contract Recognition Board ruled that he did not have any contractual obligations to race for Alpine. Pierre Gasly, who initially had a contract to drive for AlphaTauri, moved to Alpine, replacing Alonso. Gasly was replaced by the 2020–21 Formula E and 2019 Formula 2 Champion Nyck de Vries.

Daniel Ricciardo left McLaren after two seasons. Although he had a contract to drive for the team in 2023, it was terminated during the 2022 championship by mutual agreement. Ricciardo's seat was filled by Piastri, who made his Formula One debut. Nicholas Latifi left Williams after spending three seasons with the team. His seat was filled by Logan Sargeant, who graduated from Formula 2, making his Formula One debut and becoming the first American Formula One driver to compete since Alexander Rossi in 2015. Mick Schumacher left Haas after two seasons. His seat was taken by Nico Hülkenberg, who last competed in Formula One as a full-time race driver in 2019 with former team Renault.

Nyck de Vries was relieved of his driving duties for AlphaTauri after underperforming in the first ten races of his rookie season. His seat was filled by Daniel Ricciardo starting from the Hungarian Grand Prix. Ricciardo had previously raced with the team in 2012 and 2013, when it was known as Toro Rosso. During second practice for the Dutch Grand Prix, his third race of the season, Ricciardo broke a metacarpal bone in his left hand in a crash. As a result, Red Bull Racing and AlphaTauri's reserve driver Liam Lawson substituted for Ricciardo, making his Formula One debut. Lawson continued to substitute in for Ricciardo at the Italian, Singapore, Japanese and Qatar Grands Prix before Ricciardo returned for the United States Grand Prix.