| Fin | St | Driver | # | Owner | Car | Laps | Money | Status | Laps Led |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | Achille Varzi | 18 | Alfa Romeo 308 | 50 | running | |||
| 2 | 1 | Luigi Villoresi | 16 | Scuderia Ambrosiana | Maserati 4CL 1580 | 50 | running | ||
| 3 | 4 | Oscar Alfredo Gálvez | 10 | Alfa Romeo 308 50017 | 49 | running | |||
| 4 | 5 | Francisco Sacco Landi | 14 | Alfa Romeo 308 | 48 | running | |||
| 5 | 10 | Juan Gálvez | 8 | Alfa Romeo 308 | 47 | running | |||
| 6 | 11 | Juan Manuel Fangio | 54 | Ford Model T/Chevrolet | 46 | running | |||
| 7 | 13 | Clemar Bucci | 40 | Cadillac 16C | 47 | running | |||
| 8 | 6 | Italo Bizio | 2 | Alfa Romeo 8C-2900 | 46 | running | |||
| 9 | 12 | Ernesto Nanni | 41 | Ford | 46 | running | |||
| 10 | 14 | Mario Sassarego | 38 | Chevrolet | 46 | running | |||
| 11 | 7 | George Raphaël Béthenod de Montbressieux | 22 | Écurie Naphtra Course | Maserati 6CM | 39 | running | ||
| 12 | 8 | Giacomo Palmieri | 6 | Maserati 6CM 1562 | 36 | running | |||
| 3 | Pablo Pessatti | 4 | Alfa Romeo 8C-35 | did not finish | |||||
| 9 | Pablo Llano | 58 | Maserati 6CM | did not finish | |||||
| 15 | Benedicto Campos | 33 | Whippet/Ford | did not finish | |||||
| Pascal Puopolo | 12 | Maserati 6CM | did not finish |