August 7, 1988 Hungaroring | Lap distance 4.014 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 | 76 | 1:57'47.081 | 1 | 1'27.635 | 2 | 1'30.964 | (67) | |
| 2 | 6 | 11 | Alain Prost (FRA) | McLaren MP4-4 | Honda RA168-E | Goodyear | 76 | 1:57'47.610 | +0.529 | 7 | 1'28.778 | 1 | 1'30.639 | (51) |
| 3 | 4 | 20 | Thierry Boutsen (BEL) | Benetton B188 | Ford Cosworth DFR | Goodyear | 76 | 1:58'18.491 | +31.410 | 3 | 1'27.970 | 3 | 1'31.272 | (55) |
| 4 | 3 | 28 | Gerhard Berger (AUT) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 76 | 1:59'15.751 | +1'28.670 | 9 | 1'29.244 | 6 | 1'32.241 | (37) |
| 5 | 2 | 15 | Mauricio Gugelmin (BRA) | March 881 | Judd CV | Goodyear | 75 | 1:58'24.121 | +1 lap | 8 | 1'29.099 | 5 | 1'32.235 | (46) |
| 6 | 1 | 6 | Riccardo Patrese (ITA) | Williams FW12 | Judd CV | Goodyear | 75 | 1:58'36.998 | +1 lap | 6 | 1'28.569 | 8 | 1'32.569 | (21) |
| 7 | 2 | Satoru Nakajima (JPN) | Team Lotus 100T | Honda RA168-E | Goodyear | 73 | 1:58'01.326 | +3 laps | 19 | 1'31.646 | 16 | 1'34.138 | (36) | |
| 8 | 1 | Nelson Piquet (BRA) | Team Lotus 100T | Honda RA168-E | Goodyear | 73 | 1:58'18.975 | +3 laps | 13 | 1'30.405 | 9 | 1'32.783 | (12) | |
| 9 | 29 | Yannick Dalmas (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 73 | 1:59'06.707 | +3 laps | 17 | 1'31.200 | 15 | 1'34.120 | (56) | |
| 10 | 24 | Luis Perez-Sala (ESP) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 72 | 1:57'59.820 | +4 laps | 11 | 1'30.103 | 12 | 1'33.615 | (56) | |
| 11 | 33 | Stefano Modena (ITA) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 72 | 1:58'30.933 | +4 laps | 26 | 1'32.614 | 20 | 1'35.536 | (22) | |
| 12 | 30 | Philippe Alliot (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 72 | 1:58'55.397 | +4 laps | 20 | 1'31.719 | 19 | 1'35.432 | (5) | |
| 13 | 31 | Gabriele Tarquini (ITA) | Coloni FC-188 | Ford Cosworth DFZ | Goodyear | 71 | 1:59'16.820 | +5 laps | 22 | 1'32.160 | 23 | 1'36.008 | (20) | |
| Retirement | ||||||||||||||
| brakes | 17 | Derek Warwick (GBR) | Arrows A10B | Megatron | Goodyear | 65 | 1:44'02.675 | 12 | 1'30.185 | 14 | 1'34.078 | (39) | ||
| physical | 5 | Nigel Mansell (GBR) | Williams FW12 | Judd CV | Goodyear | 60 | 1:36'03.710 | 2 | 1'27.743 | 4 | 1'31.735 | (41) | ||
| brakes | 18 | Eddie Cheever (USA) | Arrows A10B | Megatron | Goodyear | 55 | 1:28'43.131 | 14 | 1'30.908 | 17 | 1'34.226 | (36) | ||
| electrical | 27 | Michele Alboreto (ITA) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 40 | 1:03'24.248 | 15 | 1'31.052 | 10 | 1'33.080 | (22) | ||
| engine | 25 | René Arnoux (FRA) | Ligier JS31 | Judd CV | Goodyear | 32 | 52'28.626 | 25 | 1'32.477 | 22 | 1'35.940 | (5) | ||
| halfshaft | 22 | Andrea de Cesaris (ITA) | Rial ARC-01 | Ford Cosworth DFZ | Goodyear | 28 | 44'45.656 | 18 | 1'31.523 | 11 | 1'33.529 | (28) | ||
| overheating | 19 | Alessandro Nannini (ITA) | Benetton B188 | Ford Cosworth DFR | Goodyear | 24 | 37'59.378 | 5 | 1'28.493 | 7 | 1'32.564 | (19) | ||
| engine | 36 | Alex Caffi (ITA) | Dallara BMS-188 | Ford Cosworth DFZ | Goodyear | 22 | 34'57.255 | 10 | 1'29.891 | 13 | 1'33.761 | (19) | ||
| throttle | 26 | Stefan Johansson (SWE) | Ligier JS31 | Judd CV | Goodyear | 19 | 32'11.473 | 24 | 1'32.342 | 21 | 1'35.759 | (5) | ||
| collision | 23 | Pierluigi Martini (ITA) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 8 | 13'01.590 | 16 | 1'31.123 | 18 | 1'34.897 | (6) | ||
| collision | 14 | Philippe Streiff (FRA) | AGS JH23 | Ford Cosworth DFZ | Goodyear | 8 | 13'21.381 | 23 | 1'32.265 | 24 | 1'36.339 | (5) | ||
| engine | 16 | Ivan Capelli (ITA) | March 881 | Judd CV | Goodyear | 5 | 18'25.639 | 4 | 1'28.350 | 26 | 1'44.982 | (1) | ||
| engine | 3 | Jonathan Palmer (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 3 | 5'15.334 | 21 | 1'31.741 | 25 | 1'36.660 | (3) | ||
| Not qualified | ||||||||||||||
| -- | 32 | Oscar Larrauri (ARG) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 1'32.987 | ||||||||
| -- | 10 | Bernd Schneider (GER) | Zakspeed 881 | Zakspeed 881 | Goodyear | 1'33.357 | ||||||||
| -- | 4 | Julian Bailey (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 1'33.694 | ||||||||
| -- | 9 | Piercarlo Ghinzani (ITA) | Zakspeed 881 | Zakspeed 881 | Goodyear | 1'34.701 | ||||||||
| Not pre-qualified | ||||||||||||||
| -- | 21 | Nicola Larini (ITA) | Osella FA1L | Osella 890T | Goodyear | 2'05.626 | ||||||||
