Mika Häkkinen won the Monaco Grand Prix 1998 at Circuit de Monaco on 24 May 1998, starting from pole position. Giancarlo Fisichella finished second for Benetton, with Eddie Irvine completing the podium for Ferrari.
| Pos | Grid | Driver | Team | Laps | Time / Status | Pts | FL |
|---|---|---|---|---|---|---|---|
| 1 | 1 | Mika HäkkinenHKK | McLaren | 78 | 1:51:24.4 | 10 | |
| 2 | 3 | Giancarlo FisichellaFIS | Benetton | 78 | +11.475 | 6 | |
| 3 | 7 | Eddie IrvineIRV | Ferrari | 78 | +41.378 | 4 | |
| 4 | 8 | Mika SaloSAL | Arrows | 78 | +1:00.363 | 3 | |
| 5 | 13 | Jacques VilleneuveVIL | Williams | 77 | +1 Lap | 2 | |
| 6 | 12 | Pedro DinizDIN | Arrows | 77 | +1 Lap | 1 | |
| 7 | 9 | Johnny HerbertHER | Sauber | 77 | +1 Lap | 0 | |
| 8 | 15 | Damon HillHIL | Jordan | 76 | +2 Laps | 0 | |
| 9 | 19 | Shinji NakanoNAK | Minardi | 76 | +2 Laps | 0 | |
| 10 | 4 | Michael SchumacherMSC | Ferrari | 76 | +2 Laps | 0 | |
| 11 | 20 | Toranosuke TakagiTAK | Tyrrell | 76 | +2 Laps | 0 | |
| 12 | 11 | Jean AlesiALE | Sauber | 72 | Gearbox | 0 | |
| R | 10 | Jarno TrulliTRU | Prost | 56 | Gearbox | 0 | |
| R | 18 | Olivier PanisPAN | Prost | 49 | Wheel | 0 | |
| R | 16 | Ralf SchumacherSCH | Jordan | 44 | Suspension | 0 | |
| R | 6 | Alexander WurzWUR | Benetton | 42 | Spun off | 0 | |
| R | 17 | Jan MagnussenMAG | Stewart | 30 | Suspension | 0 | |
| R | 2 | David CoulthardCOU | McLaren | 17 | Engine | 0 | |
| R | 14 | Rubens BarrichelloBAR | Stewart | 11 | Suspension | 0 | |
| R | 5 | Heinz-Harald FrentzenFRE | Williams | 5 | Collision | 0 | |
| R | 21 | Esteban TueroTUE | Minardi | 0 | Spun off | 0 | |
| F | 0 | Ricardo RossetROS | Tyrrell | 0 | Did not qualify | 0 |