| Pos |
# |
Driver |
Car |
Time |
| 1 | 12 | Niki Lauda | Ferrari 312 B3 | 1:18,440 |
| 2 | 1 | Ronnie Peterson | Lotus 76 Cosworth | 1:18,470 |
| 3 | 11 | Clay Regazzoni | Ferrari 312 B3 | 1:18,780 |
| 4 | 5 | Emerson Fittipaldi | McLaren M23 Cosworth | 1:19,250 |
| 5 | 2 | Jacky Ickx | Lotus 76 Cosworth | 1:19,280 |
| 6 | 7 | Carlos Reutemann | Brabham BT44 Cosworth | 1:19,370 |
| 7 | 20 | Arturo Merzario | Williams FW03 Cosworth | 1:19,540 |
| 8 | 6 | Denny Hulme | McLaren M23 Cosworth | 1:19,660 |
| 9 | 3 | Jody Scheckter | Tyrrell 007 Cosworth | 1:19,860 |
| 10 | 24 | James Hunt | Hesketh 308 Cosworth | 1:19,708 |
| 11 | 10 | Vittorio Brambilla | March 741 Cosworth | unknown |
| 12 | 14 | Jean-Pierre Beltoise | BRM P201 | 1:20,030 |
| 13 | 17 | Jean-Pierre Jarier | Shadow DN3 Cosworth | 1:20,200 |
| 14 | 9 | Hans-Joachim Stuck | March 741 Cosworth | 1:20,460 |
| 15 | 18 | Carlos Pace | Surtees TS16 Cosworth | 1:20,520 |
| 16 | 28 | John Watson | Brabham BT42 Cosworth | 1:20,540 |
| 17 | 4 | Patrick Depailler | Tyrrell 006 Cosworth | 1:20,650 |
| 18 | 33 | Mike Hailwood | McLaren M23 Cosworth | 1:20,650 |
| 19 | 19 | Jochen Mass | Surtees TS16 Cosworth | 1:20,800 |
| 20 | 26 | Graham Hill | Lola T370 Cosworth | 1:20,990 |
| 21 | 15 | Henri Pescarolo | BRM P160E | 1:21,320 |
| 22 | 16 | Brian Redman | Shadow DN3 Cosworth | 1:21,350 |
| 23 | 37 | Francois Migault | BRM P160E | 1:21,430 |
| 24 | 30 | Chris Amon | Amon AF101 Cosworth | 1:21,790 |
| 25 | 8 | Rikky von Opel | Brabham BT44 Cosworth | 1:21,850 |
| 26 | 23 | Tim Schenken | Trojan T103 Cosworth | 1:21,890 |
| DNQ | 27 | Guy Edwards | Lola T370 Cosworth | 1:21,960 |
| DNQ | 21 | Tom Belso | Williams FW02 Cosworth | 1:22,090 |
|
Spanish Grand Prix 1974