Wheldon remained with Panther Racing for the 2010 season. During the season-opening São Paulo Indy 300, he made contact with Alex Tagliani, which sent him into Kanaan; he recovered to finish fifth. Three races later at the Toyota Grand Prix of Long Beach, Wheldon took a second top-ten result with a ninth. In the Indianapolis 500, Wheldon started from eighteenth. He advanced through the field on pit stop strategy to come second for the second year in a row. Wheldon remained competitive all year; challenging for wins on oval tracks. Despite strong showings, he could not claim a race victory during his time with Panther Racing, which frustrated John Barnes. In the Indy Grand Prix of Sonoma at Infineon Raceway (now Sonoma Raceway), Wheldon made contact with Bertrand Baguette's car during a warm-up lap before the start of the event. He flipped upside down and pirouetted several times but emerged unhurt. His best finish of the year was a second place in the Peak Antifreeze & Motor Oil Indy 300 at Chicagoland Speedway. He came ninth at the season-ending Cafés do Brasil Indy 300 at Homestead–Miami Speedway, to rank ninth in the drivers' standings with 388 points.