The 1998 Presidents Cup Matches were held 11–13 December in Australia at the Royal Melbourne Golf Club in Black Rock, Victoria, a suburb southeast of Melbourne. The International team won the competition by a margin of 20½–11½. This was the first time the International team won the competition, and through 2013, is their sole victory. The honorary chairman was Australian Prime Minister John Howard. It was the third Presidents Cup competition and the first held outside the United States. The competition returned to Royal Melbourne in 2011.
Both teams had 12 players plus a non-playing captain. On the first and second day foursomes were played in the morning and four-ball was played in the afternoon. On the third day only singles were played.