July 10, 1988 Silverstone Circuit | Lap distance 4.778 km
| Pos | Points | No | Driver | Car | Engine | Tyres | Laps | Race Time | Delay | Qualifying | Fastest Lap | |||
| 1 | 9 | 12 | Ayrton Senna (BRA) | McLaren MP4-4 | Honda RA168-E | Goodyear | 65 | 1:33'16.367 | 3 | 1'10.616 | 4 | 1'23.595 | (49) | |
| 2 | 6 | 5 | Nigel Mansell (GBR) | Williams FW12 | Judd CV | Goodyear | 65 | 1:33'39.711 | +23.344 | 11 | 1'12.885 | 1 | 1'23.308 | (48) |
| 3 | 4 | 19 | Alessandro Nannini (ITA) | Benetton B188 | Ford Cosworth DFR | Goodyear | 65 | 1:34'07.581 | +51.214 | 8 | 1'12.737 | 10 | 1'24.176 | (29) |
| 4 | 3 | 15 | Mauricio Gugelmin (BRA) | March 881 | Judd CV | Goodyear | 65 | 1:34'27.745 | +1'11.378 | 5 | 1'11.745 | 8 | 1'23.823 | (45) |
| 5 | 2 | 1 | Nelson Piquet (BRA) | Team Lotus 100T | Honda RA168-E | Goodyear | 65 | 1:34'37.202 | +1'20.835 | 7 | 1'12.040 | 2 | 1'23.452 | (48) |
| 6 | 1 | 17 | Derek Warwick (GBR) | Arrows A10B | Megatron | Goodyear | 64 | 1:33'17.589 | +1 lap | 9 | 1'12.843 | 3 | 1'23.588 | (48) |
| 7 | 18 | Eddie Cheever (USA) | Arrows A10B | Megatron | Goodyear | 64 | 1:33'18.225 | +1 lap | 13 | 1'12.984 | 6 | 1'23.778 | (48) | |
| 8 | 6 | Riccardo Patrese (ITA) | Williams FW12 | Judd CV | Goodyear | 64 | 1:33'18.529 | +1 lap | 15 | 1'13.677 | 7 | 1'23.783 | (48) | |
| 9 | 28 | Gerhard Berger (AUT) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 64 | 1:33'19.084 | +1 lap | 1 | 1'10.133 | 11 | 1'24.242 | (13) | |
| 10 | 2 | Satoru Nakajima (JPN) | Team Lotus 100T | Honda RA168-E | Goodyear | 64 | 1:34'06.880 | +1 lap | 10 | 1'12.862 | 5 | 1'23.655 | (48) | |
| 11 | 36 | Alex Caffi (ITA) | Dallara BMS-188 | Ford Cosworth DFZ | Goodyear | 64 | 1:34'29.467 | +1 lap | 21 | 1'14.924 | 17 | 1'25.319 | (49) | |
| 12 | 33 | Stefano Modena (ITA) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 64 | 1:34'37.908 | +1 lap | 20 | 1'14.888 | 15 | 1'24.920 | (48) | |
| 13 | 29 | Yannick Dalmas (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 63 | 1:33'45.750 | +2 laps | 23 | 1'15.004 | 14 | 1'24.780 | (46) | |
| 14 | 30 | Philippe Alliot (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 63 | 1:33'54.723 | +2 laps | 22 | 1'14.992 | 9 | 1'24.160 | (47) | |
| 15 | 23 | Pierluigi Martini (ITA) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 63 | 1:34'04.424 | +2 laps | 19 | 1'14.732 | 12 | 1'24.370 | (45) | |
| 16 | 4 | Julian Bailey (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 63 | 1:34'38.699 | +2 laps | 24 | 1'15.135 | 18 | 1'25.758 | (42) | |
| 17 | 27 | Michele Alboreto (ITA) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 62 | 1:32'04.246 | +3 laps | 2 | 1'10.332 | 19 | 1'26.100 | (28) | |
| 18 | 25 | René Arnoux (FRA) | Ligier JS31 | Judd CV | Goodyear | 62 | 1:34'34.097 | +3 laps | 25 | 1'15.374 | 21 | 1'27.117 | (45) | |
| 19 | 21 | Nicola Larini (ITA) | Osella FA1L | Osella 890T | Goodyear | 60 | 1:30'09.658 | +5 laps | 26 | 1'15.527 | 13 | 1'24.729 | (46) | |
| Retirement | ||||||||||||||
| transmission | 20 | Thierry Boutsen (BEL) | Benetton B188 | Ford Cosworth DFR | Goodyear | 38 | 55'45.920 | 12 | 1'12.960 | 16 | 1'25.301 | (37) | ||
| alternator | 16 | Ivan Capelli (ITA) | March 881 | Judd CV | Goodyear | 34 | 51'34.663 | 6 | 1'12.006 | 20 | 1'26.752 | (27) | ||
| handling | 11 | Alain Prost (FRA) | McLaren MP4-4 | Honda RA168-E | Goodyear | 24 | 36'34.006 | 4 | 1'10.736 | 22 | 1'27.456 | (22) | ||
| engine | 3 | Jonathan Palmer (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 14 | 24'31.603 | 17 | 1'14.451 | 25 | 1'32.972 | (13) | ||
| clutch | 22 | Andrea de Cesaris (ITA) | Rial ARC-01 | Ford Cosworth DFZ | Goodyear | 9 | 15'49.659 | 14 | 1'13.438 | 23 | 1'31.101 | (7) | ||
| broken wing | 14 | Philippe Streiff (FRA) | AGS JH23 | Ford Cosworth DFZ | Goodyear | 8 | 12'54.660 | 16 | 1'14.260 | 24 | 1'31.315 | (8) | ||
| suspension | 24 | Luis Perez-Sala (ESP) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 0 | 18 | 1'14.643 | ||||||
| Not qualified | ||||||||||||||
| -- | 32 | Oscar Larrauri (ARG) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 1'16.026 | ||||||||
| -- | 9 | Piercarlo Ghinzani (ITA) | Zakspeed 881 | Zakspeed 881 | Goodyear | 1'16.043 | ||||||||
| -- | 26 | Stefan Johansson (SWE) | Ligier JS31 | Judd CV | Goodyear | 1'16.110 | ||||||||
| -- | 10 | Bernd Schneider (GER) | Zakspeed 881 | Zakspeed 881 | Goodyear | 1'18.010 | ||||||||
| Not pre-qualified | ||||||||||||||
| -- | 31 | Gabriele Tarquini (ITA) | Coloni FC-188 | Ford Cosworth DFZ | Goodyear | 1'17.028 | ||||||||
