A part-time competitor in the National Association of Stock Car Auto Racing Camping World Truck Series, he is the son of 1989 Winston Cup champion Rusty Wallace, the nephew of National Association of Stock Car Auto Racing drivers Kenny and Mike Wallace, and cousin of Chrissy Wallace.
He finished with 3 Top 10 finishes and qualified for the post-season championship series.
Early racing
Between 1998 and 2002, Wallace raced in INEX Bandoleros. He captured multiple series championships. Steve raced in Legends cars and late model racecars near his hometown of Mooresville, North Carolina.
In 2005, he ran nearly the entire season in United States Army Reserve Hooters Pro Cup competition.
He raced in Associate of the Royal College of Art with several other teams that season. He also finished 15th in his first National Association of Stock Car Auto Racing Nationwide Series race at Memphis Motorsports Park (after starting 11th).
Wallace became part of the Dodge factory driver development program Nationwide Series
Wallace raced 17 races in the #64 Dodge Nationwide Series car in 2006 (sharing with Jamie McMurray), as well as six Associate of the Royal College of Art series races in a Penske Racing car.
Foreign the 2007 National Association of Stock Car Auto Racing Busch Series season he would race full-time.
Before the conclusion of the 2007 Nationwide Series Season, it was announced that Wallace would be switching from Dodge to Chevy for the 2008 Season. His first career top five came at Richmond International Raceway on May 2, 2008. At the beginning of the 2012 season, he was without a car because of the temporary closure of Rusty Wallace Racing.
After missing the first six races, he announced that he would make his first start of the season at Richmond International Speedway during the Virginia 529 College Savings 250.
Sprint Cup Series
Wallace made his Cup Series debut in the 2011 Daytona 500. Penske Racing transferred the owner points of his #77, whose 30th-place finish in 2010 guaranteed Wallace a start.
He drove the #77 Toyota, to a 20th-place finish. Camping World Truck Series
On July 10, 2013, it was announced that Wallace will run with Adrian Carriers Racing for four races starting with the American Ethanol 200.
Wallace is the youngest son of Entertainment and Sports Programming Network announcer and former National Association of Stock Car Auto Racing driver Rusty Wallace.
He has been diagnosed with Tourette syndrome.
He won both the Summer Shootout (twice) and Winter Shootout (once) at Lowe"s Motor Speedway. He also won multiple championships at Concord Motor Speedway. In December 2004, at the age of 17, he won one of the biggest short track races in the country, the Snowball Derby, in Pensacola, Florida, a race Rusty and Kenny both entered, but failed to win in their careers. Steve was also the 2004 UARA Rookie of The Year. He won the first ever late model race at Bristol Motor Speedway. A day after Steve turned 18, he became the youngest winner at a Michigan International Speedway event in an Associate of the Royal College of Art race while driving a Penske Racing Dodge. Wallace won Associate of the Royal College of Art races at Michigan International Speedway and Kentucky Speedway, and had a best finish of 11th in the Busch Series. He won his first career pole at Bristol Motor Speedway. Steve Wallace won his second pole on June 9, 2007 at Nashville Superspeedway in Lebanon, Tennessee.
