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Under new head coach Kay Stephenson, the team finished with a record of 9-9 and second in the West Division. Edmonton defeated the B.C. Lions in the West semifinal but would lose to the Calgary Stampeders in the West Final. Quarterback David Archer threw for 2,860 yards and Don Blair had 1,091 receiving yards, reaching 1000 plus yards for the first and only time in his career. Malvin Hunter led the defence with 13 sacks.

Dave Cutler and Tom Scott are inducted into the Canadian Football Hall of Fame.

1998 (50th season)
Record: 9-9 (2nd West)
Home: 5-4 | Away: 4-5
Playoffs: 1-1 | Lost Division Final
Head coach: Kay Stephenson (1st season)
CFL All-Stars: Willie Pless
West All-Stars: Bruce Beaton, Leroy Blugh, Malvin Hunter, Willie Pless
Hall of Fame: Dave Cutler, Tom Scott
Major award winners: 
Wall of Honour: 

 

Date Opponent Result (record)
July 2 at BC Lions W 20-12 (1-0)
July 10 vs. BC Lions W 10-15 (2-0)
July 16 at Saskatchewan Roughriders L 14-28 (2-1)
July 23 at Toronto Argonauts W 30-27 (3-1)
July 31 vs. Montreal Alouettes W 10-22 (4-1)
August 7 vs. Hamilton Tiger-Cats L 39-10 (4-2)
August 13 at Hamilton Tiger-Cats L 23-48 (4-3)
August 21 vs. Winnipeg Blue Bombers W 16-25 (5-3)
August 27 vs. Saskatchewan Roughriders W 13-35 (6-3)
September 7 at Calgary Stampeders L 8-26 (6-4)
September 11 vs. Calgary Stampeders L 30-23 (6-5)
September 19 at BC Lions W 27-21 (7-5)
September 26 vs. Toronto Argonauts L 30-29 (7-6)
October 4 at Montreal Alouettes L 3-34 (7-7)
October 12 at Winnipeg Blue Bombers W 40-20 (8-7)
October 18 vs. BC Lions L 31-7 (8-8)
October 25 at Calgary Stampeders L 19-31  (8-9)
November 1 vs. Saskatchewan Roughriders W 24-46 (9-9)
November 8 vs. BC Lions W  33-40 Division Semifinal
November 15 at Calgary Stampeders L 10-33 Division Final