This paper proposes a novel maximum power point tracking (MPPT) method inspired by the horse racing game for standalone photovoltaic (PV) power systems, such that the highest PV power conversion efficiency is obtained. From the horse racing game rules, we develop the horse racing algorithm (HRA) with the qualifying stage and final ranking stage. The MPP can be searched even if there exist multiple local MPPs for the PV power system. Moreover, from the proposed horse racing algorithm, the calculation is reduced, so that the transient searching points are less than traditional methods, i.e., the transient oscillation is less during the MPPT control. Therefore, the HRA based MPPT method avoids local maximum power traps and achieves the MPP quickly even if considering partial shading influence and varying environment for PV panels. Evidence of the accuracy and effectiveness of the proposed HRA method is exhibited by simulation results. These results are also compared with typical particle swarm optimization (PSO) and grey wolf optimization (GWO) methods and shown better convergence time as well as transient oscillation. Within the range from 0.34 to 0.58 s, the proposed method has effectively tracked the global maximum power point, which is from 0.42 to 0.48 s faster than the conventional PSO technique and from 0.36 to 0.74 s faster than the GWO method. Finally, the obtained findings proved the effectiveness and superiority of the proposed HRA technique through experimental results. The fast response in terms of good transient oscillation and global power tracking time of the proposed method are from 0.40 to 1.0 s, while the PSO and GWO methods are from 1.56 to 1.6 s and from 1.9 to 2.2 s, respectively.