The 1998 King George VI and Queen Elizabeth Stakes was a horse race held at Ascot Racecourse on Saturday 25 July 1998. It was the 48th running of the King George VI and Queen Elizabeth Stakes. The winner for the second consecutive year was Godolphin's Swain, a six-year-old bay horse trained at Newmarket, Suffolk by Saeed bin Suroor and ridden by Frankie Dettori. Swain's victory was the third in the race for bin Suroor and the second for Dettori and Godolphin. In addition, Godolphin's leader Sheikh Mohammed, had won the race with Belmez (1990), Opera House (1993) and King's Theatre (1994). Swain was the first male horse to win the race twice: the only previous dual winner was the French-trained filly Dahlia in 1973 and 1974. He remains the only six-year-old to win the race.
