The 1998–99 New Mexico Lobos men's basketball team represented the University of New Mexico as a member of the Western Athletic Conference.
The Lobos were coached by head coach Dave Bliss and played their home games at the University Arena, also known as "The Pit", in Albuquerque, New Mexico.
New Mexico finished 2nd in the WAC Pacific division regular season standings and lost to Utah in the WAC Tournament championship game.
The Lobos received an at-large bid to the NCAA tournament as No.
1 seed and eventual National champion Connecticut, 78–56,[3] to finish with a 25–9 record (9–5 WAC).