Race results
Race startNovember 13, 1988 at 11:00Australian Eastern Daylight Time
| POS. | NO. | Driver | Team | TIME | Laps | Fastest Lap | PIT | Grid | PTS |
|---|---|---|---|---|---|---|---|---|---|
| 1 | 11 | Alain Prost | McLaren | 1:53:14.676 | 82 | - | - | 2 | 9 |
| 2 | 12 | Ayrton Senna | McLaren | +36.387 | 82 | - | - | 1 | 6 |
| 3 | 1 | Nelson Piquet | Team Lotus | +47.546 | 82 | - | - | 5 | 4 |
| 4 | 6 | Riccardo Patrese | Williams | +1:20.088 | 82 | - | - | 6 | 3 |
| 5 | 20 | Thierry Boutsen | Benetton | +1 Lap | 81 | - | - | 10 | 2 |
| 6 | 16 | Ivan Capelli | March | +1 Lap | 81 | - | - | 9 | 1 |
| 7 | 23 | Pierluigi Martini | Minardi | +2 Laps | 80 | - | - | 14 | 0 |
| - | 22 | Andrea de Cesaris | Rial | DNF (Out of fuel) | 77 | - | - | 15 | 0 |
| - | 26 | Stefan Johansson | Ligier | DNF (Out of fuel) | 76 | - | - | 22 | 0 |
| - | 30 | Philippe Alliot | Larrousse | DNF (Out of fuel) | 75 | - | - | 24 | 0 |
| - | 14 | Philippe Streiff | AGS | DNF (Electrical) | 73 | - | - | 16 | 0 |
| - | 9 | Piercarlo Ghinzani | Zakspeed | DNF (Fuel system) | 69 | - | - | 26 | 0 |
| - | 5 | Nigel Mansell | Williams | DNF (Spun off) | 65 | - | - | 3 | 0 |
| - | 19 | Alessandro Nannini | Benetton | DNF (Spun off) | 63 | - | - | 8 | 0 |
| - | 33 | Stefano Modena | Euro Brun | DNF (Halfshaft) | 63 | - | - | 20 | 0 |
| - | 17 | Derek Warwick | Arrows | DNF (Engine) | 52 | - | - | 7 | 0 |
| - | 18 | Eddie Cheever | Arrows | DNF (Engine) | 51 | - | - | 18 | 0 |
| - | 15 | Maurício Gugelmin | March | DNF (Collision) | 46 | - | - | 19 | 0 |
| - | 2 | Satoru Nakajima | Team Lotus | DNF (Collision) | 45 | - | - | 13 | 0 |
| - | 24 | Luis Pérez-Sala | Minardi | DNF (Engine) | 41 | - | - | 21 | 0 |
| - | 36 | Alex Caffi | Dallara | DNF (Clutch) | 32 | - | - | 11 | 0 |
| - | 28 | Gerhard Berger | Ferrari | DNF (Collision) | 25 | - | - | 4 | 0 |
| - | 25 | René Arnoux | Ligier | DNF (Collision) | 24 | - | - | 23 | 0 |
| - | 3 | Jonathan Palmer | Tyrrell | DNF (Transmission) | 16 | - | - | 17 | 0 |
| - | 32 | Oscar Larrauri | Euro Brun | DNF (Halfshaft) | 12 | - | - | 25 | 0 |
| - | 27 | Michele Alboreto | Ferrari | DNF (Collision) | 0 | - | - | 12 | 0 |