The 1988 Budweiser 500 was the 11th stock car race of the 1988 NASCAR Winston Cup Series season and the 20th iteration of the event.

Coming back from a near two-lap deficit, Melling Racing driver Bill Elliott would manage to dominate the latter stages of the race, leading 203 laps to take his 25th career NASCAR Winston Cup Series victory and his second victory of the season.

In addition to NASCAR, the track also hosted USAC and the NTT IndyCar Series.

For this specific race, positions 21-40 would be decided on time,[5] and depending on who needed it, a select amount of positions were given to cars who had not otherwise qualified but were high enough in owner's points; up to two provisionals were given.

Alan Kulwicki, driving for his own AK Racing team, would win the pole, setting a time of 24.543 and an average speed of 146.681 miles per hour (236.060 km/h) in the first round.