Countdown to
000d 00h 00m 00s2004 Monaco Grand Prix
| P | No | Driver | Constructor | Time | Gap | % | Avg Speed | Laps | |
| 1 | 4 | Ralf Schumacher | Williams-BMW | 1:14.483 | 100.0 | 161.433 | 3 | ||
| 2 | 6 | Kimi Räikkönen | McLaren-Mercedes | 1:14.659 | 0.176 | 100.2 | 161.052 | 3 | |
| 3 | 5 | David Coulthard | McLaren-Mercedes | 1:14.728 | 0.245 | 100.3 | 160.904 | 3 | |
| 4 | 9 | Jenson Button | BAR-Honda | 1:14.799 | 0.316 | 100.4 | 160.751 | 3 | |
| 5 | 11 | Giancarlo Fisichella | Sauber-Petronas | 1:14.814 | 0.331 | 100.4 | 160.719 | 3 | |
| 6 | 8 | Fernando Alonso | Renault | 1:14.816 | 0.333 | 100.4 | 160.714 | 3 | |
| 7 | 10 | Takuma Sato | BAR-Honda | 1:14.931 | 0.448 | 100.6 | 160.468 | 3 | |
| 8 | 7 | Jarno Trulli | Renault | 1:14.993 | 0.510 | 100.7 | 160.335 | 3 | |
| 9 | 3 | Juan Pablo Montoya | Williams-BMW | 1:15.029 | 0.546 | 100.7 | 160.258 | 3 | |
| 10 | 17 | Olivier Panis | Toyota | 1:15.125 | 0.642 | 100.9 | 160.053 | 3 | |
| 11 | 2 | Rubens Barrichello | Ferrari | 1:15.329 | 0.846 | 101.1 | 159.620 | 3 | |
| 12 | 12 | Felipe Massa | Sauber-Petronas | 1:15.436 | 0.953 | 101.3 | 159.393 | 3 | |
| 13 | 16 | Cristiano da Matta | Toyota | 1:15.738 | 1.255 | 101.7 | 158.758 | 3 | |
| 14 | 1 | Michael Schumacher | Ferrari | 1:15.927 | 1.444 | 101.9 | 158.363 | 3 | |
| 15 | 14 | Mark Webber | Jaguar-Ford Cosworth | 1:16.161 | 1.678 | 102.3 | 157.876 | 3 | |
| 16 | 15 | Christian Klien | Jaguar-Ford Cosworth | 1:16.379 | 1.896 | 102.5 | 157.425 | 3 | |
| 17 | 18 | Nick Heidfeld | Jordan-Ford Cosworth | 1:16.914 | 2.431 | 103.3 | 156.330 | 3 | |
| 18 | 19 | Giorgio Pantano | Jordan-Ford Cosworth | 1:17.674 | 3.191 | 104.3 | 154.801 | 3 | |
| 19 | 21 | Zsolt Baumgartner | Minardi-Ford Cosworth | 1:20.468 | 5.985 | 108.0 | 149.426 | 3 | |
| 20 | 20 | Gianmaria Bruni | Minardi-Ford Cosworth | 1:20.740 | 6.257 | 108.4 | 148.922 | 3 |