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The number of Grands Prix held in a season has varied over the years. Only seven races comprised the inaugural 1950 world championship season; over the years the calendar has almost tripled in size.

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Though the number of races had stayed at sixteen or seventeen since the 1980s, it reached nineteen in 2005.

Six of the original seven races took place in Europe; the only non-European race that counted towards the World Championship in 1950 was the Indianapolis 500, which, due to lack of participation by F1 teams, since it required cars with different specifications from the other races, was later replaced by the United States Grand Prix. The F1 championship gradually expanded to other non-European countries as well. Argentina hosted the first South American grand prix in 1953, and Morocco hosted the first African World Championship race in 1958. Asia (Japan in 1976) and Oceania (Australia in 1985) followed. The current seventeen races are spread over the continents of Europe, Asia, Oceania and South America.

 
Cars wind through the infield section of the Indianapolis Motor Speedway at the 2003 United States Grand Prix.  Traditionally each nation has hosted a single Grand Prix, which carries the name of the country. If a single country hosts multiple Grands Prix in a year they receive different names. For instance, a European country (such as Britain, Germany or Spain) which has hosted two Grands Prix has the second one known as the European Grand Prix, while Italy's second grand prix was named after nearby republic of San Marino. Similarly, as two races were scheduled in Japan in 1994/1995, the second event was known as the Pacific Grand Prix. In 1982, the United States hosted three Grands Prix.

The Grands Prix, some of which have a history that pre-dates the Formula One World Championship, are not always held on the same circuit every year. The British Grand Prix, for example, though held every year since 1950, alternated between Brands Hatch and Silverstone from 1963 to 1986. The only other race to have been included in every season is the Italian Grand Prix. The World Championship event has taken place exclusively at Monza with just one exception: in 1980, it was held at Imola, host to the San Marino Grand Prix until 2006.

One of the newest races on the Grand Prix calendar, held in Bahrain, represents Formula One's first foray into the Middle East with a high-tech purpose-built desert track. The Bahrain Grand Prix, and other new races in China and Turkey, present new opportunities for the growth and evolution of the Formula One Grand Prix franchise while new facilities also raise the bar for other Formula One racing venues around the world. In order to make room on the schedule for the newer races, older or less successful events in Europe and the Americas have been dropped from the calendar, such as these in Argentina, Austria, Mexico, San Marino, and the United States.

In 2007 it was confirmed that new Grands Prix would be added to the calendar. The first was the Singapore Grand Prix in September 2008, which had the honour of the first night race ever held in Formula One. The second was the Indian Grand Prix which will be held in Delhi, India. Other changes included the removal of the United States Grand Prix from the calendar, and the move of the European Grand Prix to Valencia, Spain.

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