FIA chief Mohammed Ben Sulayem said "safety and wellbeing" will guide decision-making with Formula One's calendar plunged into uncertainty by the war in the Middle East.
This weekend's season-opening Australian Grand Prix has been hit by travel chaos but is not under threat.
After Melbourne, Formula One heads to China then Japan, which are not expected to be affected.
However, concerns are mounting over whether next month's Bahrain race from 10-12 April and Saudi Arabia a week later will be able to go ahead.
US President Donald Trump on Monday said the assault on Iran could go "far longer" than his initial estimates of about a month.
In response, Iran and its allies have launched retaliatory strikes on Israel as well as US military bases and other areas in a host of Mideast nations, including Bahrain and Saudi Arabia.
Ben Sulayem, president of global motorsport governing body, the International Automobile Federation (FIA), said he was closely monitoring the situation.
"At this moment of uncertainty, we hope for calm and a swift return to stability. Dialogue and the protection of civilians must remain priorities," he said in his first statement on the matter late Monday.
"We are in close contact with our member clubs, championship promoters, teams, and colleagues on the ground as we monitor developments carefully and responsibly.
"Safety and wellbeing will guide our decisions as we assess the forthcoming events scheduled for the World Endurance Championship and the Formula 1 World Championship."
The Endurance Championship is a leading sportscar event due to open its season in Qatar at the end of March.
While freight, including the cars, is safely in Melbourne for the Grand Prix this weekend, the closure of airspace and airports in the Middle East has caused chaos to travel plans for team personnel.
Dubai and Doha are major flight hubs on the path to Melbourne and around 1 000 race staff have had to scramble and change flights.
Australian Formula One chief Travis Auld on Monday said he was confident "everyone will be here ready for the race".
"We're in a space where we're really confident there will be no impact," he added.
McLaren world champion Lando Norris will kickstart his title defence in Melbourne, which will be the first race for new team Cadillac – with experienced pair Valtteri Bottas and Sergio Perez in the cockpit.