He was only supposed to start a few races for Penske in 1992, but he ended up starting 11 of them, several of them as a replacement driver for Rick Mears, who was injured.
He won five times in his first full year of Champ Car competition in 1993, the first at Long Beach and the others at Cleveland, Toronto, Road America, and Laguna Seca. Paul was chosen the most improved driver by his peers and topped the series in most laps driven.
Tracy's 1994 season got off to a poor start, with only two points in the first four races. With victories at Detroit, Nazareth, and Laguna Seca, he recovered from his bad start and finished on the podium in 8 of the last 12 races.
With his third-place finish in the standings, Team Penske swept the top three positions, with Al Unser Jr. winning the championship and Emerson Fittipaldi coming in second. Paul moved to Newman/Haas Racing for the 1995 season after three successful seasons with Penske Racing.
Tracy returned to Penske racing in 1996, despite winning two races (Australia and Milwaukee) and finishing sixth in the championship. His return to Penske was a disappointment, as he finished 13th in the championship with no victories. He also had to miss two races due to a back ailment. Tracy's 1997 season was a roller coaster ride.
He took the points to lead after winning three straight events in Nazareth, Rio de Janeiro, and Gateway. Soon after, his season took a turn for the worst, with him finishing 26th or worse in each of the remaining five races, slipping to fifth place in the championship. From 1998 until 2002, Paul was a member of Team KOOL Green.
For the 1998 season, Tracy left Penske Racing to drive for Team KOOL Green. The year was a challenge for him, as he never placed higher than fifth in any race and finished a disappointing 13th overall.
Several on- and off-track incidents during the year earned him the anger of CART officials, and he was forced to withdraw from the season-opening race in 1999. Despite missing the first race, Paul had a very good season, finishing on the podium seven times and winning in Milwaukee and Houston. He came in third place in the competition.
Tracy had a successful 2000 season, winning in Long Beach, Road America, and Vancouver while finishing sixth in the championship. In 2001, Paul's fourth year with Green was one of his worst, as he went winless and ended 14th in the championship. Paul had another difficult year in 2002.
He did win a race in Milwaukee, but he finished 11th in the championship after failing to finish 10 of 19 races.
Tracy returned to the Indianapolis 500 for the first time since 1995 and finished first, but he was punished by race officials, who relegated him to second place after a late-race yellow flag came virtually at the same moment he passed Helio Castroneves for the lead. He won CART's Most Popular Driver Award that year.
In 2005, Paul Tracy was in Denver. Paul Tracy joined the Player's/Forsythe team in the off-season for the 2003 season and had one of the finest seasons in Champ Car history. With victories at St. Petersburg, Monterrey, and Long Beach, he became the first driver in 32 years to win the opening three races of a season.
Toronto, Vancouver, Mid-Ohio, and Mexico City were among his other triumphs. On his path to his first title, he led 658 laps, scored six poles, and ten podiums. Players were unable to return as a sponsor for the next season due to tobacco advertising regulations.
CART went bankrupt at the same time, and its assets were auctioned off in an Indiana court. Kevin Kalkhoven, Paul Gentilozzi, and Tracy's team owner Gerald Forsythe bought the series. Lack of sponsorship money did not assist the squad, and Paul was unable to defend his title in 2004.
He came in fourth place overall in the series, including victories in Long Beach and Vancouver.