The 1998 North Queensland Cowboys season was the 4th in the club's history. Coached by Tim Sheens and captained by John Lomax, they competed in the inaugural season of the newly formed National Rugby League (NRL) competition.
The year got off to the best start possible, as the club went on a four-game winning streak, the first time they'd won three and four games in a row. They then bounced back from a big loss to Brisbane in Round 5, with a 17-4 win over Newcastle. After six rounds, the club sat in equal 1st on 10 competition points and a maiden finals appearance looked to be a real possibility.
It turned out to be false dawn, as a five-game losing streak followed. The club would then make history in Round 12, defeating the Penrith Panthers 36-28, after trailing 26-0 at half time. As of 2019, this still stands as the biggest comeback victory in Australian first grade history. They followed that up with another milestone, recording 40 points in a game for the first time, defeating the Western Suburbs Magpies 40-10. Over the last 10 rounds, the club would win just two games, finishing in 16th place after such a promising start to the season. The club's lone representative in 1998, New Zealand's John Lomax, was named Player of the Year and Players' Player.
The club blooded two talented 18-year-olds during the season, Moranbah's Josh Hannay and Mt Isa's Scott Prince. Hannay, whose planned debut in 1996 as a 16-year-old was vetoed by the ARL, played 21 games and was the club's top try and point scorer. He went onto set numerous point scoring records for the club, playing 150 games over nine seasons, and representing Queensland on two occasions. Prince, a Junior Kangaroo in 1998, played 16 games (10 of those off the bench) and would play 53 games over three seasons before joining the Cowboys' arch-rivals, the Brisbane Broncos, in 2001. In 2005, he guided the Wests Tigers to their maiden premiership, defeating the Cowboys in the Grand Final.