Before the 2001 Indy Racing League season, Hornish moved to Panther Racing to drive the No. 4 Dallara IR01-Oldsmobile Aurora L47 V8. He began the season with consecutive victories at Phoenix and Homestead-Miami in his first two races with the team. At the Indianapolis 500, Hornish qualified in 13th place. He finished 14th, four laps behind after an early spin. He continued to drive well, clinching the championship before the final race of the season (a second-place finish at Chicagoland Speedway). Since the winner of each race receives 50 points, Hornish's 66-point advantage clinched the championship with one race remaining. At the season-ending race at Texas he started in the pole position, leading for 115 laps in his third win of the season. Hornish won the championship with 503 points, 105 points ahead of second-place Buddy Lazier. At age 22, he was the youngest champion in series history.