Mika Häkkinen won the Australian Grand Prix 1998 at Albert Park Grand Prix Circuit on 8 March 1998, starting from pole position. David Coulthard finished second for McLaren, with Heinz-Harald Frentzen completing the podium for Williams.
| Pos | Grid | Driver | Team | Laps | Time / Status | Pts | FL |
|---|---|---|---|---|---|---|---|
| 1 | 1 | Mika HäkkinenHKK | McLaren | 58 | 1:31:46.0 | 10 | |
| 2 | 2 | David CoulthardCOU | McLaren | 58 | +0.702 | 6 | |
| 3 | 6 | Heinz-Harald FrentzenFRE | Williams | 57 | +1 Lap | 4 | |
| 4 | 8 | Eddie IrvineIRV | Ferrari | 57 | +1 Lap | 3 | |
| 5 | 4 | Jacques VilleneuveVIL | Williams | 57 | +1 Lap | 2 | |
| 6 | 5 | Johnny HerbertHER | Sauber | 57 | +1 Lap | 1 | |
| 7 | 11 | Alexander WurzWUR | Benetton | 57 | +1 Lap | 0 | |
| 8 | 10 | Damon HillHIL | Jordan | 57 | +1 Lap | 0 | |
| 9 | 21 | Olivier PanisPAN | Prost | 57 | +1 Lap | 0 | |
| R | 7 | Giancarlo FisichellaFIS | Benetton | 43 | Broken wing | 0 | |
| R | 12 | Jean AlesiALE | Sauber | 41 | Engine | 0 | |
| R | 15 | Jarno TrulliTRU | Prost | 26 | Gearbox | 0 | |
| R | 19 | Ricardo RossetROS | Tyrrell | 25 | Gearbox | 0 | |
| R | 16 | Mika SaloSAL | Arrows | 23 | Gearbox | 0 | |
| R | 17 | Esteban TueroTUE | Minardi | 22 | Engine | 0 | |
| R | 22 | Shinji NakanoNAK | Minardi | 8 | Halfshaft | 0 | |
| R | 3 | Michael SchumacherMSC | Ferrari | 5 | Engine | 0 | |
| R | 20 | Pedro DinizDIN | Arrows | 2 | Gearbox | 0 | |
| R | 9 | Ralf SchumacherSCH | Jordan | 1 | Collision | 0 | |
| R | 18 | Jan MagnussenMAG | Stewart | 1 | Collision | 0 | |
| R | 13 | Toranosuke TakagiTAK | Tyrrell | 1 | Spun off | 0 | |
| R | 14 | Rubens BarrichelloBAR | Stewart | 0 | Gearbox | 0 |
| Pos | Driver | Team | Q1 | Q2 | Q3 |
|---|---|---|---|---|---|
| 1 | Mika Häkkinen | McLaren | 1:30.010 | - | - |
| 2 | David Coulthard | McLaren | 1:30.053 | - | - |
| 3 | Michael Schumacher | Ferrari | 1:30.767 | - | - |
| 4 | Jacques Villeneuve | Williams | 1:30.919 | - | - |
| 5 | Johnny Herbert | Sauber | 1:31.384 | - | - |
| 6 | Heinz-Harald Frentzen | Williams | 1:31.397 | - | - |
| 7 | Giancarlo Fisichella | Benetton | 1:31.733 | - | - |
| 8 | Eddie Irvine | Ferrari | 1:31.767 | - | - |
| 9 | Ralf Schumacher | Jordan | 1:32.392 | - | - |
| 10 | Damon Hill | Jordan | 1:32.399 | - | - |
| 11 | Alexander Wurz | Benetton | 1:32.726 | - | - |
| 12 | Jean Alesi | Sauber | 1:33.240 | - | - |
| 13 | Toranosuke Takagi | Tyrrell | 1:33.291 | - | - |
| 14 | Rubens Barrichello | Stewart | 1:33.383 | - | - |
| 15 | Jarno Trulli | Prost | 1:33.739 | - | - |
| 16 | Mika Salo | Arrows | 1:33.927 | - | - |
| 17 | Esteban Tuero | Minardi | 1:34.646 | - | - |
| 18 | Jan Magnussen | Stewart | 1:34.906 | - | - |
| 19 | Ricardo Rosset | Tyrrell | 1:35.119 | - | - |
| 20 | Pedro Diniz | Arrows | 1:35.140 | - | - |
| 21 | Olivier Panis | Prost | 1:35.215 | - | - |
| 22 | Shinji Nakano | Minardi | 1:35.301 | - | - |