October 2, 1988 Circuito de Jerez | Lap distance 4.218 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 | 72 | 3.000000.851 | 2 | 4.000000.134 | 1 | 7.000000.845 | (60) | |
| 2 | 6 | 5 | Nigel Mansell (GBR) | Williams FW12 | Judd CV | Goodyear | 72 | 0.000 | +6.000000.232 | 3 | 4.000000.269 | 2 | 7.000000.999 | (57) |
| 3 | 4 | 19 | Alessandro Nannini (ITA) | Benetton B188 | Ford Cosworth DFR | Goodyear | 72 | 9.000000.297 | +5.000000.446 | 5 | 5.000000.032 | 4 | 8.000000.576 | (31) |
| 4 | 3 | 12 | Ayrton Senna (BRA) | McLaren MP4-4 | Honda RA168-E | Goodyear | 72 | 0.000 | +6.000000.710 | 1 | 4.000000.067 | 3 | 8.000000.273 | (60) |
| 5 | 2 | 6 | Riccardo Patrese (ITA) | Williams FW12 | Judd CV | Goodyear | 72 | 1.000000.281 | +7.000000.430 | 7 | 5.000000.217 | 7 | 8.000000.861 | (71) |
| 6 | 1 | 28 | Gerhard Berger (AUT) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 72 | 5.000000.664 | +1.000000.813 | 8 | 5.000000.466 | 6 | 8.000000.716 | (70) |
| 7 | 15 | Mauricio Gugelmin (BRA) | March 881 | Judd CV | Goodyear | 72 | 9.000000.815 | +5.000000.964 | 11 | 6.000000.578 | 10 | 9.000000.890 | (40) | |
| 8 | 1 | Nelson Piquet (BRA) | Team Lotus 100T | Honda RA168-E | Goodyear | 72 | 1.000000.160 | +7.000000.309 | 9 | 5.000000.648 | 9 | 9.000000.304 | (67) | |
| 9 | 20 | Thierry Boutsen (BEL) | Benetton B188 | Ford Cosworth DFR | Goodyear | 72 | 1.000000.506 | +7.000000.655 | 4 | 4.000000.904 | 5 | 8.000000.711 | (54) | |
| 10 | 36 | Alex Caffi (ITA) | Dallara BMS-188 | Ford Cosworth DFZ | Goodyear | 71 | 1.000000.868 | +1 lap | 18 | 7.000000.350 | 11 | 0.000 | (54) | |
| 11 | 29 | Yannick Dalmas (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 71 | 5.000000.165 | +1 lap | 16 | 7.000000.187 | 16 | 1.000000.063 | (29) | |
| 12 | 24 | Luis Perez-Sala (ESP) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 70 | 4.000000.424 | +2 laps | 24 | 7.000000.833 | 17 | 1.000000.246 | (41) | |
| 13 | 33 | Stefano Modena (ITA) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 70 | 6.000000.621 | +2 laps | 26 | 7.000000.977 | 22 | 2.000000.263 | (36) | |
| 14 | 30 | Philippe Alliot (FRA) | Lola LC88 | Ford Cosworth DFZ | Goodyear | 69 | 7.000000.551 | +3 laps | 12 | 6.000000.832 | 14 | 0.000 | (63) | |
| Retirement | ||||||||||||||
| wheel | 26 | Stefan Johansson (SWE) | Ligier JS31 | Judd CV | Goodyear | 62 | 1.000000.154 | 21 | 7.000000.474 | 19 | 1.000000.511 | (48) | ||
| chassis | 18 | Eddie Cheever (USA) | Arrows A10B | Megatron | Goodyear | 60 | 7.000000.218 | 25 | 7.000000.859 | 12 | 0.000 | (45) | ||
| engine | 16 | Ivan Capelli (ITA) | March 881 | Judd CV | Goodyear | 45 | 0.000 | 6 | 5.000000.115 | 8 | 9.000000.197 | (40) | ||
| chassis | 17 | Derek Warwick (GBR) | Arrows A10B | Megatron | Goodyear | 41 | 5.000000.335 | 17 | 7.000000.240 | 15 | 0.000 | (29) | ||
| engine | 22 | Andrea de Cesaris (ITA) | Rial ARC-01 | Ford Cosworth DFZ | Goodyear | 37 | 3.000000.086 | 23 | 7.000000.798 | 13 | 0.000 | (21) | ||
| engine | 14 | Philippe Streiff (FRA) | AGS JH23 | Ford Cosworth DFZ | Goodyear | 16 | 3.000000.048 | 13 | 6.000000.971 | 20 | 1.000000.853 | (15) | ||
| engine | 27 | Michele Alboreto (ITA) | Ferrari F1/87-88C | Ferrari 156/88 | Goodyear | 15 | 4.000000.408 | 10 | 6.000000.447 | 18 | 1.000000.310 | (10) | ||
| gearbox | 23 | Pierluigi Martini (ITA) | Minardi M188 | Ford Cosworth DFZ | Goodyear | 15 | 6.000000.398 | 20 | 7.000000.407 | 21 | 2.000000.017 | (14) | ||
| spun off | 2 | Satoru Nakajima (JPN) | Team Lotus 100T | Honda RA168-E | Goodyear | 14 | 7.000000.252 | 15 | 7.000000.171 | 23 | 2.000000.296 | (13) | ||
| suspension | 21 | Nicola Larini (ITA) | Osella FA1L | Osella 890T | Goodyear | 9 | 3.000000.070 | 14 | 7.000000.012 | 24 | 2.000000.303 | (4) | ||
| chassis | 3 | Jonathan Palmer (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 4 | 0.000 | 22 | 7.000000.548 | 25 | 2.000000.315 | (2) | ||
| throttle | 25 | René Arnoux (FRA) | Ligier JS31 | Judd CV | Goodyear | 0 | 19 | 7.000000.351 | ||||||
| Not qualified | ||||||||||||||
| -- | 10 | Bernd Schneider (GER) | Zakspeed 881B | Zakspeed 881 | Goodyear | 8.000000.194 | ||||||||
| -- | 32 | Oscar Larrauri (ARG) | Euro Brun ER-188 | Ford Cosworth DFZ | Goodyear | 8.000000.664 | ||||||||
| -- | 4 | Julian Bailey (GBR) | Tyrrell 017 | Ford Cosworth DFZ | Goodyear | 9.000000.066 | ||||||||
| -- | 9 | Piercarlo Ghinzani (ITA) | Zakspeed 881B | Zakspeed 881 | Goodyear | 9.000000.503 | ||||||||
| Not pre-qualified | ||||||||||||||
| -- | 31 | Gabriele Tarquini (ITA) | Coloni FC-188 | Ford Cosworth DFZ | Goodyear | 0.000 | ||||||||
