The 1998 Race of Champions took place on December 6 at Gran Canaria. It was the 11th running of the event, and the 7th running at Gran Canaria. It was the final year that the event was exclusively for rally drivers. Colin McRae was the victor after beating brother Alister in the final.

Driver	Reason for Qualification
Colin McRae	World Rally champion in 1995
Didier Auriol	World Rally champion in 1994
Carlos Sainz	World Rally champion in 1990 and 1992
Alister McRae	Winner in the International Masters
Armin Schwarz	Finalist in the International Masters
Thomas Rådström	3rd in the International Masters
Stig Blomqvist	Winner in the Legends Race
Miki Biasion	Finalist in the Legends Race

• Björn Waldegård & Timo Salonen eliminated in the first round.

	Semi-finals				Final
	Stig Blomqvist	2
	Ari Vatanen	1
					Stig Blomqvist	?
					Miki Biasion	?
	Miki Biasion	2
	Hannu Mikkola	0

	Quarter-finals				Semi-finals				Final
	Armin Schwarz	1
	Jean-Pierre van de Wauwer	0
					Armin Schwarz	1
					Marcus Grönholm	0
	Flavio Alonso	0
	Marcus Grönholm	1
									Armin Schwarz	1
									Alister McRae	2
	Thomas Rådström	1
	Neal Bates	0
					Thomas Rådström	0
					Alister McRae	1
	Alister McRae	1
	Andrea Aghini	0

	Quarter-finals				Semi-finals				Final
	Colin McRae	1
	Miki Biasion	0
					Colin McRae	1
					Didier Auriol	0
	Didier Auriol	1
	Armin Schwarz	0
									Colin McRae	2
									Alister McRae	1
	Thomas Rådström	0
	Alister McRae	1
					Alister McRae	1
					Carlos Sainz	0
	Carlos Sainz	1
	Stig Blomqvist	0

• Information sourced from http://www.atodomotor.com/pagina/ROC.html