The 1997–98 Murray State Racers men's basketball team represented Murray State University during the 1997–98 NCAA Division I men's basketball season.
The Racers, led by third-year head coach Mark Gottfried, played their home games at Racer Arena in Murray, Kentucky, as members of the Ohio Valley Conference.
They finished the season 29–4, 16–2 in OVC play to win the OVC regular season title.
9 seed in the Midwest region, the Racers were beaten by No.
8 seed and eventual Elite Eight participant Rhode Island, 97–74.