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The following are the basketball events of the year 1998 throughout the world.

• Men Yugoslavia 64, Russia 62
• Women USA 71, Russia 65

• Men
  • 1998 NBA Finals: Chicago Bulls over the Utah Jazz 4-2. MVP: Michael Jordan
    • 1998 NBA Playoffs, 1997-98 NBA season, 1998 NBA draft, 1998 NBA All-Star Game
  • Philippine Basketball Association 1998 season:
    • Alaska Milkmen over the San Miguel Beermen 4-3 in the All-Filipino Cup Finals
    • Alaska Milkmen over the San Miguel Beermen 4-2 in the Commissioner's Finals
    • Formula Shell Zoom Masters over the Mobiline Phone Pals 4-3 in the Governor's Finals
• Women
  • WNBA Finals: Houston Comets over the Phoenix Mercury 2-1. MVP: Cynthia Cooper
    • 1998 WNBA Playoffs, 1998 WNBA season, 1998 WNBA draft

• Men
  • NCAA Division I: University of Kentucky 78, University of Utah 69
  • National Invitation Tournament: University of Minnesota def. Penn State University
  • NCAA Division II: University of California-Davis 83, Kentucky Wesleyan College 77
  • NCAA Division III: University of Wisconsin-Platteville 69, Hope College 53
  • NAIA Division I: Georgetown College (KY) 83, Southern Nazarene University (OK) 69
  • NAIA Division II: Bethel College (Indiana) (IN) 89, Oregon Institute of Technology 87
  • NJCAA Division I: Indian Hills CC, Ottumwa, Iowa 83, Shelby State CC, Memphis, Tennessee 68
• Women
  • NCAA Division I: Purdue University 62, Duke University 45
  • NCAA Division II: North Dakota State University 92, Emporia State University 76
  • NCAA Division III Washington (Mo.) 77, University of Southern Maine 69
  • NAIA Division I: Union College (TN) 73-70 Southern Nazarene University (OK) 70
  • NAIA Division II Walsh University (OH)) 73, University of Mary Hardin-Baylor (TX) 66

• USA Today Boys Basketball #1 Ranking: St. John's at Prospect Hall, Frederick, Maryland (25-0) Led by Jason Capel and Damien Wilkins.
• USA Today Girls Basketball #1 Ranking: Christ the King, Queens, New York (27-0) Won the New York Federation Class A title, led by Sue Bird.

• Men
  • NBA Most Valuable Player Award: Michael Jordan
  • NBA Rookie of the Year Award: Tim Duncan
  • NBA Defensive Player of the Year Award: Dikembe Mutombo
  • NBA Coach of the Year Award: Larry Bird, Indiana Pacers
• Women
  • WNBA Most Valuable Player Award: Cynthia Cooper, Houston Comets
  • WNBA Defensive Player of the Year Award: Teresa Weatherspoon, New York Liberty
  • WNBA Rookie of the Year Award: Tracy Reid, Charlotte Sting
  • Kim Perrot Sportsmanship Award: Suzie McConnell Serio, Cleveland Rockers
  • WNBA Coach of the Year Award: Van Chancellor, Houston Comets
  • WNBA Finals Most Valuable Player Award: Cynthia Cooper, Houston Comets

• Men
  • John R. Wooden Award: Antawn Jamison, North Carolina
  • Naismith College Coach of the Year: Bill Guthridge, North Carolina
  • Frances Pomeroy Naismith Award: Earl Boykins, Eastern Michigan
  • Associated Press College Basketball Player of the Year: Antawn Jamison, North Carolina
  • NCAA basketball tournament Most Outstanding Player: Richard Hamilton, Connecticut
  • USBWA National Freshman of the Year: Larry Hughes, Saint Louis
  • Associated Press College Basketball Coach of the Year: Tom Izzo, Michigan State
  • Naismith Outstanding Contribution to Basketball: Dean Smith
• Women
  • Naismith College Player of the Year: Chamique Holdsclaw, Tennessee
  • Naismith College Coach of the Year: Pat Summitt, Tennessee
  • Wade Trophy: Ticha Penicheiro, Old Dominion
  • Frances Pomeroy Naismith Award: Angie Arnold, Johns Hopkins
  • Associated Press Women's College Basketball Player of the Year: Chamique Holdsclaw, Tennessee
  • NCAA basketball tournament Most Outstanding Player: Chamique Holdsclaw, Tennessee
  • Basketball Academic All-America Team: Lisa Davies, Missouri State
  • Carol Eckman Award: Kay James, Southern Mississippi
  • Associated Press College Basketball Coach of the Year: Pat Summitt, Tennessee

• Class of 1998:^[1]
  • Larry Bird
  • Jody Conradt
  • Alex Hannum
  • Marques Haynes
  • Aleksandar Nikolić
  • Arnie Risen
  • Lenny Wilkens

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• BASEketball
• He Got Game

• March 11 — Buddy Jeannette, Hall of Fame NBA, NBL and BAA player (born 1917)
• March 17 — Cliff Barker, American basketball player (born 1921)
• May 15 — Earl "Goat" Manigault, legendary street player (born 1944)
• June 8 — McCoy Ingram, 67, American player (Minneapolis Lakers, Harlem Globetrotters).^[2]
• July 4 — Jay Taylor, American NBA player (New Jersey Nets) (born 1967)
• August 8 — Sam Balter, member of 1936 US Olympic team (born 1909)
• November 6 — Jack Hartman, American Kansas State University coach (born 1925)
• November 6 — Fred Pralle, All-American college player (Kansas) (born 1916)
• November 13 — Red Holzman, American Basketball Hall of Fame coach who won two NBA championships with the New York Knicks (born 1920)
• December 6 — Radomir Shaper, Serbian player and administrator and FIBA Hall of Fame member (born 1925)