The fifth game of [[SNK]]'s [[The King of Fighters]] series. The game has no story and is considered a "Dream Match". This game later gains an update called "The King of Fighters '98: Ultimate Match", complete with the addition of the mix-and-match Ultimate Mode.

h4. Characters

h5. Team Japan

* [[Kusanagi Kyou]]
* [[Nikaidou Benimaru]]
* [[Daimon Gorou]]

h5. [[Fatal Fury]] Team

* [[Terry Bogard]]
* [[Andy Bogard]]
* [[Joe Higashi]]

h5. [[Ryuuko no Ken|Art of Fighting]] Team

* [[Ryou Sakazaki]]
* [[Robert Garcia]]
* [[Yuri Sakazaki]]

h5. [[Ikari (game)|Ikari Warriors]] Team

* [[Leona Heidern]]
* [[Ralf Jones]]
* [[Clark Still]]

h5. [[Psycho Soldier]] Team

* [[Asamiya Athena]]
* [[Sie Kensou]]
* [[Chin Gentsai]]

h5. Women Fighters Team

* [[King (SNK)|King]]
* [[Kagura Chizuru]]
* [[Shiranui Mai]]

h5. Team Korea

* [[Kim Kaphwan]]
* [[Chang Koehan]]
* [[Choi Bounge]]

h5. New Faces Team

* [[Nanakase Yashiro]]
* [[Shermie (kof)|]]
* [[Chris (kof)|]]

h5. Outlaw Team

* [[Yamazaki Ryuuji]]
* [[Blue Mary]]
* [[Billy Kane]]

h5. Yagami Team

* [[Yagami Iori]]
* [[Mature (KoF)|]]
* [[Vice (KoF)|]]

h5. Fathers Team

* [[Heidern]]
* [[Takuma Sakazaki]]
* [[Kusanagi Saishu]]

h5. American Sports Team

* [[Heavy D!]]
* [[Lucky Glauber]]
* [[Brian Battler]]

h5. Solo Entry

* [[Rugal Bernstein]]
* [[Yabuki Shingo]]

h5. Boss

* [[Omega Rugal]]

h4. Characters Introduced in Ultimate Match

h5. Solo Entry

* [[Kisaragi Eiji]]
* [[Toudou Kasumi]]

h5. Boss Team

* [[Geese Howard]]
* [[Wolfgang Krauser]]
* [[Mr Big (SNK)|]]

h5. Boss

* [[Goenitz]]
* [[Orochi (kof)|]]
the king of fighters '98