The 1998 Preakness Stakes was the 123rd running of the Preakness Stakes thoroughbred horse race.

Real Quiet, who was jockeyed by Kent Desormeaux, won the race by two and one quarter lengths over runner-up Victory Gallop.

The race was run over a fast track in a final time of 1:54-3/5.

[1] The Maryland Jockey Club reported total attendance of 103,269, this is recorded as second highest on the list of American thoroughbred racing top attended events for North America in 1998.

[2] The 123rd Preakness Stakes Payout Schedule