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Elections to Gosport Borough Council were held on 7 May 1998. One third of the council was up for election and the council stayed under no overall control.
After the election, the composition of the council was
| Party | Seats | Gains | Losses | Net gain/loss | Seats % | Votes % | Votes | +/− | |
|---|---|---|---|---|---|---|---|---|---|
| Labour | 6 | +2 | 54.5 | ||||||
| Conservative | 4 | +4 | 36.4 | ||||||
| Liberal Democrats | 1 | -3 | 9.1 | ||||||
| Others | 0 | -3 | 0 | ||||||
| Preceded by 1996 Gosport Council election | Gosport local elections | Succeeded by 1999 Gosport Council election |