For the third year in a row, the favorite has won the Kentucky Derby.
American Pharoah swept into the lead on the turn for home and held off Firing Line and stablemate Dortmund to win the Run for the Rose before a record crowd at Churchill Downs.
The win bu the sweet-striding colt gave Hall of Fame trainer Bob Baffert his fourth Derby win, and jockey Victor Espinoza his third and second in a row.
It also gave owner Ahmed Zayat his first Derby win after three second-place finishes.
Firing Line finished second, with Baffert's other entry Dortmund third. Frosted was fourth in the 18-horse field.
"I'm speechless. We were very close before," Zayat said. "We are very blessed."
Added Baffert: "It's a fantasy moment for us."
California Chrome won last year; Orb won in 2013.