Señorita Panamá 1998, the 16th Señorita Panamá pageant and 33rd Miss Panamá celebration, was held at the Teatro Anayansi of the Atlapa Convention Centre in Panama City, Panama, on Saturday, September 5, 1998. The event was broadcast live by RPC Televisión. Tanisha Drummond crowned Yamani Saied (Panamá Centro) as Señorita Panamá 1998. The same night, Lorena del Carmen Zagía Miró (Panamá Centro) was named Señorita Panamá World 1998, and Abimelec Rodríguez Fernández (Panamá Centro) was selected to represent Panama at Miss Asia Pacific.