The fortieth edition of the Caribbean Series (Serie del Caribe) was held from February 4 through February 10 of 1998 with the champion baseball teams of the Dominican Republic, Águilas Cibaeñas; Mexico, Venados de Mazatlán; Puerto Rico, Indios de Mayagüez, and Venezuela, Cardenales de Lara. The format consisted of 12 games, each team facing the other teams twice, and the games were played at Estadio Alfonso Chico Carrasquel in Puerto la Cruz, Anzoátegui, Venezuela.