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GP of Monaco Monte Carlo 15-5-1988, 78 laps of 3.328 m, Total distance
259.584 m
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| Pos | No | Driver | Team-engine | Diff | Reason |
| 1 | 11 | Alain Prost | McLaren-Honda MP4/4 | 1:57:17.077 | - |
| 2 | - | Gerhard Berger | Ferrari F187/88C | -20.453 | - |
| 3 | - | Michele Alboreto | Ferrari F187/88C | -41.229 | - |
| 4 | - | Derek Warwick | Arrows-Megatron A10B | -1 lap | - |
| 5 | - | Jonathan Palmer | Tyrrell-Ford 017 | -1 lap | - |
| 6 | 6 | Riccardo Patrese | Williams-Judd FW12 | -1 lap | - |
| 7 | - | Yannick Dalmas | Lola-Ford LC88 | -1 lap | - |
| 8 | - | Thierry Boutsen | Benetton-Ford B188 | -2 laps | - |
| 9 | - | Nicola Larini | Osella-Alfa Romeo FA1L | -3 laps | - |
| 10 | - | Ivan Capelli | March-Judd 881 | -6 laps | - |
| 11 | 12 | Ayrton Senna | McLaren-Honda MP4/4 | -12 laps | Spun |
| 12 | - | Philippe Alliot | Lola-Ford LC88 | -28 laps | Collision |
| 13 | - | Mauricio Gugelmin | March-Judd 881 | -33 laps | Fuel pump |
| 14 | - | Piercarlo Ghinzani | Zakspeed 881 | -35 laps | Gearbox |
| 15 | - | Alessandro Nannini | Benetton-Ford B188 | -40 laps | Gearbox |
| 16 | - | Luis Perez Sala | Minardi-Ford M188 | -42 laps | Unknown |
| 17 | 5 | Nigel Mansell | Williams-Judd FW12 | -46 laps | Collision |
| 18 | - | Andrea de Cesaris | Rial-Ford ARC1 | -50 laps | Oil |
| 19 | - | René Arnoux | Ligier-Judd JS31 | -61 lap | Engine |
| 20 | - | Oscar Larrauri | EuroBrun-Ford ER188 | -64 laps | Brakes |
| 21 | - | Eddie Cheever | Arrows-Megatron A10B | -70 laps | Engine |
| 22 | - | Stefan Johansson | Ligier-Judd JS31 | -72 laps | Engine |
| 23 | - | Gabriele Tarquini | Coloni-Ford FC188 | -73 laps | Suspension |
| 24 | - | Alex Caffi | Dallara-Ford 188 | -78 laps | Spun |
| 25 | - | Nelson Piquet | Lotus-Honda 100T | -78 laps | Collision |
| 26 | - | Philippe Streiff | AGS-Ford JH23 | DNS | Gas |
| 27 | - | Stefano Modena | EuroBrun-Ford ER188 | DNQ | - |
| 28 | - | Satoru Nakajima | Lotus-Honda 100T | DNQ | - |
| 29 | - | Bernd Schneider | Zakspeed 881 | DNQ | - |
| 30 | - | Adrian Campos | Minardi-Ford M188 | DNQ | - |
| 31 | - | Julian Bailey | Tyrrell-Ford 017 | DNQ | - |
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