For 1997–1998 he had a seat in Formula One with the newly founded Stewart Grand Prix team, owned in part by his old F3 boss Paul Stewart. Team founder Jackie Stewart once described him as "the most talented young driver to emerge since Ayrton Senna", but his performance was underwhelming. He scored his only championship point in his last race in F1, the 1998 Canadian Grand Prix; for the rest of the season he was replaced by Jos Verstappen. Magnussen started 24 GPs, one less than he entered, because his car was damaged in an accident during the start of the 1997 Brazilian Grand Prix causing him to retire before the restart.