Theodore Racing (Chinese: 徳利賽車隊香港) was a Formula One constructor from Hong Kong founded by real estate magnate and millionaire Teddy Yip. They participated in 51 grands prix, entering a total of 64 cars. In the present day Theodore Racing is an international motor racing team owned by Teddy Yip Jr. competing in the Macau Grand Prix. Following its last race in 1992, the team made a successful return to racing at the Macau Grand Prix in 2013 under Teddy Yip Jr., owner of GP3 team Status Grand Prix.