The Budapest Trophy is an annual figure skating competition sanctioned by the International Skating Union (ISU), organized and hosted by the Hungarian National Skating Federation (Hungarian: Magyar Országos Korcsolyázó Szövetség) at the Vasas Jégcentrum in Budapest, Hungary. The competition debuted in 2020 amidst the COVID-19 pandemic. The Budapest Trophy has been an Challenger Series event four times during its history as of 2025. Medals may be awarded in men's singles, women's singles, pair skating, and ice dance; and when the event is part of the Challenger Series, skaters earn ISU World Standing points based on their results.

The ISU Challenger Series was introduced in 2014. It is a series of international figure skating competitions sanctioned by the International Skating Union (ISU) and organized by ISU member nations. The objective is to ensure consistent organization and structure within a series of international competitions linked together, providing opportunities for senior-level skaters to compete at the international level and also earn ISU World Standing points.^[1] When an event is held as part of the Challenger Series, it must host at least three of the four disciplines (men's singles, women's singles, pair skating, and ice dance) and representatives from at least twelve different ISU member nations. The minimum number of entrants required for each discipline is: eight skaters each in men's singles and women's singles, five teams in pair skating, and six teams in ice dance.^[2] While ISU member nations are limited to sending a maximum of three skaters or teams per discipline to each event, the Hungarian National Skating Federation can enter an unlimited number of entrants in their own event. Additionally, each skater or team is limited to participating in at most three Challenger Series events each season.^[3]

The inaugural edition of the Budapest Trophy was intended to be the sixth event of the 2020–21 Challenger Series, however all but two of the events were ultimately cancelled due to the COVID-19 pandemic: the 2020 Nebelhorn Trophy and the 2020 Budapest Trophy. On 13 July, the ISU announced that the remaining Challenger Series events would be treated as separate individual competitions rather than part of a series; as a result, no Challenger Series ranking would be determined and no prize money distributed at the end of the series, although skaters could still earn Challenger Series points to apply toward their world rankings.^[4] However, the ISU later revised their decision on 3 August, announcing that world ranking points would not be awarded due to the limited nature of the competitions.^[5] On 1 October, the Hungarian National Skating Federation released a statement detailing the Hungarian government's COVID-19 regulations for competitors seeking to gain entry to Hungary.^[6] The 2020 Budapest Trophy was held from 15 to 17 October at the Vasas Jégcentrum. Only 300 spectators were allowed into the arena each day, with temperatures taken prior to admittance and strict requirements for the wearing of masks.^[7] Daniel Grassl of Italy won the men's event, Loena Hendrickx of Belgium won the women's event, and Oleksandra Nazarova and Maksym Nikitin of Ukraine won the ice dance event.^[8]

The Budapest Trophy has been held every year since, although the 2021 and 2025 editions were not part of the Challenger Series.^[9][10]

CS: Challenger Series event

• Hungarian National Skating Federation
• Budapest Trophy at Skating Scores