This is the progression of world record improvements of the 1500 metres M40 division of Masters athletics.
- Key
Incomplete information Pending Better indoor record
| Hand | Auto | Athlete | Nationality | Birthdate | Location | Date | Ref |
|---|---|---|---|---|---|---|---|
| 3:40.20 i | Bernard Lagat |  United States | 12.12.1974 | New York City | 14.02.2015 | ||
| 3:41.87 | Bernard Lagat | United States | 12.12.1974 | Birmingham | 07.06.2015 | ||
| 3:42.02 | Anthony Whiteman | GBR | 13.11.1971 | Stretford | 07.07.2012 | ||
| 3:42.65 | Vyacheslav Shabunin | RUS | 27.09.1969 | Sochi | 27.05.2010 | ||
| 3:44.06 | Jim Sorensen | United States | 10.05.1967 | Oxy | 03.06.2007 | ||
| 3:44.89 | Luiz José Gonçalves | BRA | 04.12.1958 | Rio de Janeiro | 04.06.1999 | ||
| 3:45.3 i | Eamonn Coghlan | IRL | 24.11.1952 | New York | 26.02.1993 | ||
| 3:46.7 | David Moorcroft | GBR | 10.04.1953 | Belfast | 19.06.1993 | ||
| 3:49.47 | Wilson Waigwa | KEN | 15.02.1949 | Eugene | 05.08.1989 | ||
| 3:52.0 | Michel Bernard | FRA | 31.12.1931 | 20.06.1972 |