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The Rey de Reyes (English: "King of Kings") 1998 was the second annual Rey de Reyes professional wrestling tournament and show show promoted by Asistencia Asesoría y Administración (AAA). The event took place on March 1, 1998 in the Toreo de Cuatro Caminos arena in Naucalpan, Mexico State, Mexico. The Rey de Reyes tournament consisted of a semi-final round of four four-man elimination matches and a final match with the winners of each of the semi-finals facing off in an elimination match until only one man remains. The final of the 1998 Rey de Reyes tournament pitted Perro Aguayo, Latin Lover, Cibernético and Octagón against each other. Besides the five tournament matches the show also featured a Mini-Estrella match, an Eight-man "Atómicos" tag team match and a Steel Cage match.
The event featured eight professional wrestling matches with different wrestlers involved in pre-existing scripted feuds or storylines. Wrestlers portray either villains (referred to as Rudos in Mexico) or fan favorites (Técnicos in Mexico) as they compete in wrestling matches with pre-determined outcomes.
- Mini Abismo Negro, Mini Electroshock and Mini Psicosis defeated La Parkita, Mini Discovery and Octagóncito in a Six-man "Lucha Libre rules" tag team match
- Los Payasos (Coco Amarillo, Coco Azul Coco Rojo and Coco Negro) vs. Los Vipers (Histeria, Maniaco, Mosco de la Merced and Psicosis II) in a Eight-man "Atómicos" tag team match
- Octagón defeated Hong Kong Lee, Máscara Sagrada, Jr. and Fuerza Guerrera in a Rey de Reyes1998 Semi-final elimination match.
- Latin Lover defeated Blue Demon, Jr., Black Demon and Killer in a Rey de Reyes1998 Semi-final elimination match.
- Cibernético defeated Shiiba, Perro Aguayo, Jr. and Máscara Ságrada (II) in a Rey de Reyes1998 Semi-final elimination match.
- Perro Aguayo defeated Electroshock, La Parka, Jr. and El Cobarde in a Rey de Reyes1998 Semi-final elimination match.
- Antonio and Jorge Brennan defeated Abismo Negro and Pentagón by disqualification in a tag team Steel Cage match