Ichiro drove a first-pitch fastball from Young in the air to deep right-center field as National League right fielder Ken Griffey Jr. of the Reds gave chase.
Griffey appeared in good position to field the ball off the padded wall, but the ball took a strange bounce and veered back toward right field as Griffey gave chase.
Griffey's throw back to the infield was not cut off, allowing the speedy Ichiro -- who had hits in his first two at-bats on Tuesday -- to score standing up as the American League took a 2-1 lead. Brian Roberts of Baltimore, who walked to start the inning, came home ahead of the Japanese star.
Ichiro, a seven-time All-Star, started the game in center field for the American League and hit leadoff.
It was the first inside-the-park homer of Ichiro's seven-year Major League career.
National Baseball Hall of Fame vice president Jeff Idelson acquired the ball and will take it back to Cooperstown, N.Y., to become part of the museum's collection.
Corey Brock is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.