Racing is known to have taken place in the Palermo region of Argentina as early as 7th May 1876. The Hipodromo Argentiano de Palermo was built in 1908, with a race of the same name first being competed for in 1953. The course is now an all-weather course with a circumference of 2400 metres.

 A Grade 1 race run at the course is the Gran Premio Seleccion and its most recent winner was Miss Match who upset the hot favourite Cagnotte, ridden by the British based jockey Frankie Dettori. The Gran Premio is run over 2000 metres of the dirt track. The Gran Premio Seleccion, the Argentine Oaks, was first run in 1893 when won by Etolie. The 2000 millennium winner was Miss Linda.

The principal race is the Gran Premio Nacional, the Argentine Derby, which was first run in 1884. Other Group 1 races run at the track are the Gran Premio Polla de Potrancas de Palermo, and the Gran Premio Polla de Potrillos de Palermo.

By 1947 the course was the first in the country to introduce a photo finish system, and in 1971 the course introduced floodlights to enable night racing to take place.
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