The 2006 Chinese Grand Prix was held on 1 October 2006 at Shanghai International Circuit, Shanghai. The race was won by Michael Schumacher, driving a Ferrari 248 F1, and would turn out to be the 91st and last victory of his Formula One career. It was also his last podium finish until the 2012 European Grand Prix, during his comeback to the sport.

Following back-to-back wins in Turkey and on home soil, Ferrari certainly had the momentum coming into the Grand Prix, the Italian team were also ahead of Renault by 3 points in the constructors championship and Michael Schumacher was 2 points behind Fernando Alonso in the Drivers' Championship. It rained heavily before the start of the race, suiting the Michelin runners and disadvantaging the Bridgestone runners. Fernando Alonso led away at the start, followed by Giancarlo Fisichella. By lap 19, Schumacher (started 4^th) had caught up to Fisichella.

The new leading trio of Alonso, Fisichella and Schumacher made their first pit stops on laps 22, 23 and 21, respectively. Fisichella and Schumacher both kept all the same tyres, but Alonso, whose tyres were already fading, was unsure about whether they could last all the way to the second pit stops, so he changed the front tyres, but left the same rear tyres. However, this disadvantaged him even more, and within a few laps his 20-second lead had evaporated to nothing. For several laps, Alonso, Fisichella and Schumacher ran nose to tail. On lap 29, Fisichella tried to pass Alonso down the back straight, but braked too late and ran wide, allowing Alonso to regain the lead. The following lap, he pulled off the maneuver successfully and immediately began to pull away. Only a few corners later, at the start of lap 31, Schumacher passed Alonso and chased after Fisichella. He was able to stay with him but unable to seriously threaten to overtake. Schumacher and Fisichella were among the last drivers to switch to dry tyres, pitting on laps 40 and 41 respectively. Fisichella emerged from his stop still ahead of Schumacher, but struggling with his cold tyres ran wide at the first corner, allowing Schumacher through into the lead. Alonso had now rediscovered his pace and charged in the closing stages, setting fastest lap after fastest lap. Fisichella let him past without a fight, but although he continued to close rapidly on Schumacher, he ran out of time to catch him, finishing just 3 seconds behind. Fisichella had dropped back hugely in the closing laps but hung on to a comfortable third place. The result put Michael Schumacher equal on points with Fernando Alonso, and in the championship lead on countback. Both championship contenders were confident heading into the final two races of the season.

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