| Tournament details | |
|---|---|
| Dates | 29 July – 29 December 1998 |
| Teams | 20 (from 5 associations) |
| Final positions | |
| Champions |  Palmeiras (1st title) |
| Runners-up | Cruzeiro |
| Tournament statistics | |
| Matches played | 75 |
| Goals scored | 218 (2.91 per match) |
| Top scorer(s) | Alex Fábio Júnior (6 goals each) |
1999 → | |
The Copa Mercosur 1998 was the first season of the Copa Mercosur, CONMEBOL's club tournament.
The competition started on 29 July 1998 and concluded on 29 December 1998 with Palmeiras beating Cruzeiro in the final.