Race Result
| GP n. 615 - 08/03/1998 - Grand Prix of Australia Albert Park Grand Prix Circuit |
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| Winner: | Mika Hakkinen / McLaren-Mercedes - 1:31'45.996 | ||||||
| Pole Position: | Mika Hakkinen / McLaren-Mercedes - 1:30.010 | ||||||
| Fastest Lap: | Mika Hakkinen / McLaren-Mercedes - 1:31.649 | ||||||
| Pos | Nš | Driver | Constructor | Laps | Time/Retired | Grid | Points |
| 1 | 8 |  Mika Hakkinen |
McLaren-Mercedes | 58 | 1:31'45.996 | 1 | 10 |
| 2 | 7 |  David Coulthard |
McLaren-Mercedes | 58 | +0.702 | 2 | 6 |
| 3 | 2 |  Heinz-Harald Frentzen |
Williams-Mecachrome | 57 | +1 lap | 6 | 4 |
| 4 | 4 | Eddie Irvine |
Ferrari | 57 | +1 lap | 8 | 3 |
| 5 | 1 |  Jacques Villeneuve |
Williams-Mecachrome | 57 | +1 lap | 4 | 2 |
| 6 | 15 | Johnny Herbert |
Sauber-Petronas | 57 | +1 lap | 5 | 1 |
| 7 | 6 |  Alexander Wurz |
Benetton-Playlife | 57 | +1 lap | 15 | 0 |
| 8 | 9 | Damon Hill |
Jordan-Mugen-Honda | 57 | +1 lap | 10 | 0 |
| 9 | 11 |  Olivier Panis |
Prost-Peugeot | 57 | +1 lap | 21 | 0 |
| Ret | 5 |  Giancarlo Fisichella |
Benetton-Playlife | 43 | broken wing | 7 | 0 |
| Ret | 14 | Jean Alesi |
Sauber-Petronas | 41 | engine | 12 | 0 |
| Ret | 12 | Jarno Trulli |
Prost-Peugeot | 26 | gearbox | 11 | 0 |
| Ret | 20 |  Ricardo Rosset |
Tyrrell-Ford | 25 | gearbox | 19 | 0 |
| Ret | 17 | Mika Salo |
Arrows | 23 | gearbox | 16 | 0 |
| Ret | 23 |  Esteban Tuero |
Minardi-Ford | 22 | engine | 17 | 0 |
| Ret | 22 |  Shinji Nakano |
Minardi-Ford | 8 | halfshaft | 22 | 0 |
| Ret | 3 | Michael Schumacher |
Ferrari | 5 | engine | 3 | 0 |
| Ret | 16 | Pedro Diniz |
Arrows | 2 | gearbox | 20 | 0 |
| Ret | 10 | Ralf Schumacher |
Jordan-Mugen-Honda | 1 | collision | 9 | 0 |
| Ret | 19 |  Jan Magnussen |
Stewart-Ford | 1 | collision | 18 | 0 |
| Ret | 21 | Toranosuke Takagi |
Tyrrell-Ford | 1 | spun off | 13 | 0 |
| Ret | 18 | Rubens Barrichello |
Stewart-Ford | 0 | gearbox | 14 | 0 |