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Date: 5 February 1976
| Rank | Name | Nation | Time |
| 1 | Galina Stepanskaya | URS | 2:16.58 |
| 2 | Sheila Young | USA | 2:17.06 |
| 3 | Tatyana Averina | URS | 2:17.96 |
| 4 | Lisbeth Korsmo | NOR | 2:18.99 |
| 5 | Karin Kessow | GDR | 2:19.05 |
| 6 | Leah Poulos | USA | 2:19.11 |
| 7 | Ines Bautzmann | GDR | 2:19.63 |
| 8 | Erwina Ryś | POL | 2:19.69 |
| 9 | Sylvia Burka | CAN | 2:19.74 |
| 10 | Andrea Mitscherlich | GDR | 2:20.05 |
| 11 | Sigrid Sundby Dybedahl | NOR | 2:21.85 |
| 12 | Annie Borckink | NED | 2:22.06 |
| 13 | Sijtje van der Lende | NED | 2:22.10 |
| 14 | Sylvia Filipsson | SWE | 2:22.42 |
| 15 | Nina Statkevich | URS | 2:22.59 |
| 16 | Christa Jaarsma | NED | 2:23.98 |
| 17 | Cindy Seikkula | USA | 2:24.06 |
| 18 | Ewa Malewicka | POL | 2:24.26 |
| 19 | Janina Korowicka | POL | 2:24.30 |
| 20 | Tuula Vilkas | FIN | 2:24.55 |
| 21 | Liz Appleby | CAN | 2:24.89 |
| 22 | Chieko Ito | JPN | 2:25.27 |
| 23 | Kathy Vogt | CAN | 2:25.49 |
| 24 | Yuko Ota | JPN | 2:25.74 |
| 25 | Lee Nam-Sun | KOR | 2:26.24 |
| 26 | Linda Rombouts | BEL | 2:32.96 |