The 1998 New Zealand Grand Prix event for open wheel racing cars was held at Ruapana Park near Christchurch on 6 December 1998.

The event was won by Simon Wills driving for Birrana Racing, while Scott Dixon and Greg Murphy rounded out the podium.

Murphy had won the 1994 iteration of the event and by this stage was an established driver throughout the Australasian motor racing scene.

Dixon once again proved his pace by securing the pole position, setting a time almost eight-tenths faster than the second-placed driver, Simon Wills.

The preliminary race held on Saturday and Wills defied the critics by capatilising on a mistake from Dixon to take victory.

Lechner owing to internal disputes with NRC Racing while Rutherford was thwarted by a lack of spare parts.

The elation for the Dutchman was short-lived as he would be taken out of the race by Murphy at turn three on the first lap, with the Kiwi misjudging the track conditions.

Sims had retired on lap four due to a faulty clutch while the Birrana car of Brenton Ramsay went out with a valve spring.