Wheldon was involved in a 15-car wreck and had been transported to a nearby hospital by helicopter. The remainder of the race was canceled upon the announcement of Wheldon's death.
The drivers then honored Wheldon with a five-lap salute as bagpipes played "Amazing Grace."
Wheldon was the 2005 Indy Racing League IndyCar Series champion and winner of the Indianapolis 500 in 2005 and 2011. The 33-year-old was named Rookie of the Year in 2003.
Wheldon is survived by his wife, Susie, and two sons, Sebastian and Oliver.