September 25, 1988 Autódromo do Estoril | Lap distance 4.350 km
| Pos | Points | No | Driver | Car | Engine | Tyres | Laps | Race Time | Delay | Qualifying | Fastest Lap | |||
| 1 | 9 | 11 | Alain Prost (FRA) | McLaren MP4-4 | Honda RA168-E | Goodyear | 70 | 0.000 | 1 | 7.000000.411 | 3 | 2.000000.063 | (35) | |
| 2 | 6 | 16 | Ivan Capelli (ITA) | March 881 | Judd CV | Goodyear | 70 | 0.000 | +9.000000.553 | 3 | 8.000000.812 | 4 | 2.000000.074 | (33) |
| 3 | 4 | 20 | Thierry Boutsen (BEL) | Benetton B188 | Ford Cosworth DFR | Goodyear | 70 | 5.000000.577 | +4.000000.619 | 13 | 0.000 | 2 | 1.000000.992 | (60) |
| 4 | 3 | 17 | Derek Warwick (GBR) | Arrows A10B | Megatron | Goodyear | 70 | 8.000000.377 | +7.000000.419 | 10 | 9.000000.603 | 10 | 3.000000.043 | (43) |
| 5 | 2 | 27 | Michele Alboreto (ITA) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 70 | 2.000000.842 | +1.000000.884 | 7 | 9.000000.372 | 5 | 2.000000.123 | (65) |
| 6 | 1 | 12 | Ayrton Senna (BRA) | McLaren MP4-4 | Honda RA168-E | Goodyear | 70 | 9.000000.227 | +8.000000.269 | 2 | 7.000000.869 | 8 | 2.000000.852 | (61) |
| 7 | 36 | Alex Caffi (ITA) | Dallara BMS-188 | Ford Cosworth DFZ | Goodyear | 69 | 3.000000.668 | +1 lap | 17 | 0.000 | 9 | 2.000000.960 | (31) | |
| 8 | 24 | Luis Perez-Sala (ESP) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 68 | 5.000000.816 | +2 laps | 19 | 1.000000.094 | 16 | 4.000000.301 | (38) | |
| 9 | 14 | Philippe Streiff (FRA) | AGS JH23 | Ford Cosworth DFZ | Goodyear | 68 | 3.000000.087 | +2 laps | 21 | 1.000000.418 | 19 | 4.000000.785 | (46) | |
| 10 | 25 | René Arnoux (FRA) | Ligier JS31 | Judd CV | Goodyear | 68 | 4.000000.585 | +2 laps | 23 | 1.000000.790 | 21 | 4.000000.954 | (59) | |
| 11 | 31 | Gabriele Tarquini (ITA) | Coloni FC-188 | Ford Cosworth DFZ | Goodyear | 65 | 8.000000.844 | +5 laps | 26 | 2.000000.170 | 23 | 5.000000.291 | (37) | |
| 12 | 21 | Nicola Larini (ITA) | Osella FA1L | Osella 890T | Goodyear | 63 | 1.000000.218 | +7 laps | 25 | 2.000000.119 | 13 | 3.000000.715 | (44) | |
| Retirement | ||||||||||||||
| engine | 15 | Mauricio Gugelmin (BRA) | March 881 | Judd CV | Goodyear | 59 | 3.000000.872 | 5 | 9.000000.045 | 11 | 3.000000.138 | (40) | ||
| spun off | 5 | Nigel Mansell (GBR) | Williams FW12 | Judd CV | Goodyear | 54 | 7.000000.800 | 6 | 9.000000.131 | 7 | 2.000000.581 | (47) | ||
| overheating | 3 | Jonathan Palmer (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 53 | 5.000000.485 | 22 | 1.000000.788 | 20 | 4.000000.950 | (42) | ||
| handling | 19 | Alessandro Nannini (ITA) | Benetton B188 | Ford Cosworth DFR | Goodyear | 52 | 0.000 | 9 | 9.000000.572 | 6 | 2.000000.563 | (23) | ||
| spun off | 28 | Gerhard Berger (AUT) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 35 | 8.000000.321 | 4 | 8.000000.903 | 1 | 1.000000.961 | (31) | ||
| clutch | 1 | Nelson Piquet (BRA) | Team Lotus 100T | Honda RA168-E | Goodyear | 34 | 5.000000.885 | 8 | 9.000000.551 | 12 | 3.000000.362 | (33) | ||
| radiator | 6 | Riccardo Patrese (ITA) | Williams FW12 | Judd CV | Goodyear | 29 | 5.000000.241 | 11 | 9.000000.797 | 14 | 3.000000.907 | (26) | ||
| engine | 23 | Pierluigi Martini (ITA) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 27 | 7.000000.015 | 14 | 0.000 | 15 | 3.000000.918 | (25) | ||
| alternator | 29 | Yannick Dalmas (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 20 | 9.000000.711 | 15 | 0.000 | 18 | 4.000000.647 | (15) | ||
| spun off | 2 | Satoru Nakajima (JPN) | Team Lotus 100T | Honda RA168-E | Goodyear | 16 | 9.000000.509 | 16 | 0.000 | 24 | 6.000000.094 | (14) | ||
| halfshaft | 22 | Andrea de Cesaris (ITA) | Rial ARC-01 | Ford Cosworth DFZ | Goodyear | 11 | 5.000000.618 | 12 | 9.000000.940 | 17 | 4.000000.390 | (10) | ||
| turbo | 18 | Eddie Cheever (USA) | Arrows A10B | Megatron | Goodyear | 10 | 1.000000.719 | 18 | 0.000 | 22 | 5.000000.073 | (9) | ||
| engine | 30 | Philippe Alliot (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 7 | 4.000000.443 | 20 | 1.000000.096 | 25 | 6.000000.109 | (6) | ||
| engine | 26 | Stefan Johansson (SWE) | Ligier JS31 | Judd CV | Goodyear | 4 | 2.000000.292 | 24 | 2.000000.035 | 26 | 6.000000.153 | (4) | ||
| Not qualified | ||||||||||||||
| -- | 4 | Julian Bailey (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 2.000000.296 | ||||||||
| -- | 9 | Piercarlo Ghinzani (ITA) | Zakspeed 881B | Zakspeed 881 | Goodyear | 2.000000.549 | ||||||||
| -- | 33 | Stefano Modena (ITA) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 3.000000.075 | ||||||||
| -- | 10 | Bernd Schneider (GER) | Zakspeed 881B | Zakspeed 881 | Goodyear | 3.000000.300 | ||||||||
| Not pre-qualified | ||||||||||||||
| -- | 32 | Oscar Larrauri (ARG) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 5.000000.146 | ||||||||
