Alex Palou will start from pole position in the 107th Indianapolis 500 after the young Spaniard put together the fastest four-lap pole run in history, edging Dutchman Rinus VeeKay and Sweden's Felix Rosenqvist.

Palou, who won on the road course race at Indianapolis Motor Speedway last weekend, whipped four laps around the historic 2.5-mile speedway at an average of 234.217 mph in his Chip Ganassi team race car.

That was a mere 0.007 mph faster than VeeKay, who still gave Ed Carpenter Racing a front-row starting spot for the ninth time in the last 11 years.

"It means the world to me now, to the boys, to everybody," said Palou, who is likely moving to Arrow McLaren next year.

"I'm just super happy," Palou said.

Palou surpassed the record pole run of 234.046 mph that Ganassi teammate Scott Dixon put up last year. It also was the second-fastest qualifying effort, trailing only Arie Luyendyk's 236.986, which he set the day after pole qualifying in 1996.

"He did exactly what he needed to do. He'll be the first to tell you it was a total team effort," said Ganassi, who put a car on the pole at the Indy 500 for the eighth time. "We're going to sail into the 500 starting on the pole. We're pretty excited."

Santino Ferrucci qualified fourth, on the inside of Row 2 for underdog A.J. Foyt Racing, which has turned heads all week. Rookie Foyt driver Benjamin Pedersen also made the Fast 12 and will start in 11th for the May 28 race.

Pato O'Ward will start alongside Ferrucci with Dixon, who was going for a record third straight pole, qualifying sixth.

Alexander Rossi was the fastest of those that failed to make the Fast Six, putting him seventh on the grid. He'll be on the inside of Row 3 along with Takuma Sato and Tony Kanaan, who will start ninth in what he says is his final Indy 500.

The others that failed to advance to the pole shootout were defending Indy 500 champion Marcus Ericsson, who will start 10th for the strong Ganassi contingent, Pedersen and Australia's Will Power, the lone Team Penske driver to make the Fast 12 from Saturday's qualifying runs.