| 1981 Little 500 Final Results | ||||
| Place | Team | Elapsed Time | Laps | |
| 1 | Delta Chi | 2:05.17 | 200 | |
| 2 | Chi Phi | 2:05.18 | 200 | |
| 3 | Alpha Tau Omega | 2:05.19 | 200 | |
| 4 | Willkie Wheelmen | 2:05.19 | 200 | |
| 5 | Phi Kappa Psi | 2:05.19 | 200 | |
| 6 | Alpha Epsilon Pi | 2:05.19 | 200 | |
| 7 | Phi Gamma Delta | 2:05.56 | 200 | |
| 8 | Sigma Alpha Epsilon | 2:05.56 | 200 | |
| 9 | Blitzkriegers | 2:05.57 | 200 | |
| 10 | Wissler Five | 2:06.12 | 200 | |
| 11 | Sigma Phi Epsilon | 2:05.55 | 199 | |
| 12 | Jenkins House | 2:05.57 | 199 | |
| 13 | Dodds House | 2:06.03 | 199 | |
| 14 | Rollins House | 2:05.57 | 198 | |
| 15 | Theta Chi | 2:06.03 | 198 | |
| 16 | Sigma Chi | 2:06.08 | 198 | |
| 17 | Sigma Nu | 2:05.59 | 197 | |
| 18 | Alpha Sigma Phi | 2:06.10 | 197 | |
| 19 | Phi Delta Theta | 2:05.50 | 194 | |
| 20 | Evans Scholars | 2:05.29 | 192 | |
| 21 | Wissler Three | 2:06.01 | 192 | |
| 22 | Kappa Sigma | 2:06.12 | 192 | |
| 23 | Acacia | 2:05.52 | 190 | |
| 24 | Delta Tau Delta | 2:05.33 | 189 | |
| 25 | Parks House | 2:05.31 | 188 | |
| 26 | Curry Two | 2:05.46 | 187 | |
| 27 | Tau kappa Epsilon | 2:05.59 | 182 | |
| 28 | Pi Kappa Phi | 2:06.09 | 182 | |
| 29 | boisen I | 2:05.49 | 179 | |
| 30 | Sigma Pi | 2:05.51 | 179 | |
| 31 | Nichols House | 2:05.29 | 176 | |
| 32 | Pi Kappa Alpha | 2:05.55 | 176 | |
| 33 | Hummer House | 2:05.33 | 174 | |