The 1997 Race of Champions took place on December 7 at Gran Canaria. It was the 10th running of the event, and the 6th running at Gran Canaria. Carlos Sainz defeated sometime Subaru WRC teammate Colin McRae to become Champion of Champions.
| Driver | Reason for Qualification | |
|---|---|---|
 Colin McRae | World Rally champion in 1995 | |
 Didier Auriol | World Rally champion in 1994 | |
 Carlos Sainz | World Rally champion in 1990 and 1992 | |
 Jarmo Kytölehto | Winner in the International Masters | |
| Armin Schwarz | Finalist in the International Masters | |
| Gustavo Trelles | 3rd in the International Masters | |
| Walter Röhrl | Winner in the Legends Race | |
 Stig Blomqvist | Finalist in the Legends Race |