The Chip Ganassi Racing driver clocked a best lap of 227.206mph (365.653km/h) in the #9 Honda during the two-hour Carb Day session.
Come Sunday (local time), he will start a career-worst 21st.
“We rolled off pretty good,” said Dixon. “It was a good day. The car seems pretty fast, pulls up well, pretty consistent.”
Casting an eye to the race, he added, “I think you have to take the moment as it is. You don’t want to rush it too much.
“We’ve got some positions to make up. Hopefully move up as quick as possible.
“I’d like to pass all 20 cars on the first lap, but that’s probably not going to happen.”
Four-time Indy 500 winner Helio Castroneves ended the session second-quickest on a 226.939mph (365.223km/h) in the #60 Meyer Shank Racing Honda while Pato O’Ward (#5 McLaren) was first of the Chevrolet-powered steerers, in third on a 226.666mph (364.784km/h).
The Team Penske trio which has locked out the front row for Sunday’s race was all much further down in Carb Day practice, with Scott McLaughlin (#3 Chevrolet) 20th, Will Power (#12 Chevrolet) 21st, and Josef Newgarden (#2 Chevrolet) 32nd.
There were two Cautions during the session, with one for debris and another to tow Kyle Larson after his #17 McLaren Chevrolet ran out of fuel.
Just the race itself remains, with a start estimated for Sunday at 12:45 ET/Monday at 02:45 AEST.
Results: Practice Final
Pos | Num | Driver | C/E/T | Fastest lap | Fastest speed | Split 1st/prev | Lap |
1 | 9 | Scott Dixon | D/H/F | 0:39.6117 | 227.206 | 11/90 | |
2 | 06 | Helio Castroneves | D/H/F | 0:39.6583 | 226.939 | 0.0466/0.0466 | 5/103 |
3 | 5 | Pato O’Ward | D/C/F | 0:39.7060 | 226.666 | 0.0943/0.0477 | 10/78 |
4 | 26 | Colton Herta | D/H/F | 0:39.7842 | 226.220 | 0.1725/0.0782 | 4/79 |
5 | 66 | Tom Blomqvist | D/H/F | 0:39.9201 | 225.450 | 0.3084/0.1359 | 11/62 |
6 | 28 | Marcus Ericsson | D/H/F | 0:39.9259 | 225.418 | 0.3142/0.0058 | 7/64 |
7 | 78 | Agustin Canapino | D/C/F | 0:39.9432 | 225.320 | 0.3315/0.0173 | 4/105 |
8 | 60 | Felix Rosenqvist | D/H/F | 0:39.9450 | 225.310 | 0.3333/0.0018 | 5/89 |
9 | 10 | Alex Palou | D/H/F | 0:39.9463 | 225.302 | 0.3346/0.0013 | 86/91 |
10 | 23 | Ryan Hunter-Reay | D/C/F | 0:39.9780 | 225.124 | 0.3663/0.0317 | 3/63 |
11 | 6 | Callum Ilott | D/C/F | 0:39.9866 | 225.075 | 0.3749/0.0086 | 39/103 |
12 | 4 | Kyffin Simpson | D/H/F | 0:40.0313 | 224.824 | 0.4196/0.0447 | 15/104 |
13 | 17 | Kyle Larson | D/C/F | 0:40.0426 | 224.761 | 0.4309/0.0113 | 24/74 |
14 | 75 | Takuma Sato | D/H/F | 0:40.0659 | 224.630 | 0.4542/0.0233 | 91/96 |
15 | 30 | Pietro Fittipaldi | D/H/F | 0:40.0769 | 224.568 | 0.4652/0.0110 | 12/97 |
16 | 11 | Marcus Armstrong | D/H/F | 0:40.1058 | 224.406 | 0.4941/0.0289 | 8/100 |
17 | 15 | Graham Rahal | D/H/F | 0:40.1154 | 224.353 | 0.5037/0.0096 | 11/106 |
18 | 98 | Marco Andretti | D/H/F | 0:40.1209 | 224.322 | 0.5092/0.0055 | 12/72 |
19 | 45 | Christian Lundgaard | D/H/F | 0:40.1272 | 224.287 | 0.5155/0.0063 | 37/74 |
20 | 3 | Scott McLaughlin | D/C/F | 0:40.1312 | 224.264 | 0.5195/0.0040 | 18/93 |
21 | 12 | Will Power | D/C/F | 0:40.1332 | 224.253 | 0.5215/0.0020 | 6/69 |
22 | 24 | Conor Daly | D/C/F | 0:40.1333 | 224.253 | 0.5216/0.0001 | 9/74 |
23 | 27 | Kyle Kirkwood | D/H/F | 0:40.1511 | 224.153 | 0.5394/0.0178 | 10/65 |
24 | 14 | Santino Ferrucci | D/C/F | 0:40.1852 | 223.963 | 0.5735/0.0341 | 44/49 |
25 | 77 | Romain Grosjean | D/C/F | 0:40.1878 | 223.949 | 0.5761/0.0026 | 4/82 |
26 | 7 | Alexander Rossi | D/C/F | 0:40.2025 | 223.867 | 0.5908/0.0147 | 68/92 |
27 | 33 | Christian Rasmussen | D/C/F | 0:40.2105 | 223.822 | 0.5988/0.0080 | 61/88 |
28 | 41 | Sting Ray Robb | D/C/F | 0:40.2614 | 223.539 | 0.6497/0.0509 | 78/95 |
29 | 20 | Ed Carpenter | D/C/F | 0:40.2958 | 223.348 | 0.6841/0.0344 | 4/67 |
30 | 21 | Rinus VeeKay | D/C/F | 0:40.3541 | 223.026 | 0.7424/0.0583 | 15/90 |
31 | 51 | Katherine Legge | D/H/F | 0:40.3719 | 222.927 | 0.7602/0.0178 | 74/86 |
32 | 2 | Josef Newgarden | D/C/F | 0:40.3864 | 222.847 | 0.7747/0.0145 | 12/72 |
33 | 8 | Linus Lundqvist | D/H/F | 0:40.3878 | 222.840 | 0.7761/0.0014 | 6/49 |