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1988–89 in Argentine football saw Independiente win the Argentine championship. In the international competitions there were two editions of the Copa Libertadores, the best performance came from Newell's Old Boys who were runners up in the Copa Libertadores 1988. Racing Club were the inaugural champions of the Supercopa Sudamericana, their first championship of any description since 1967.
League championship
The Argentine league championship featured an unusual points system. After each drawn match there was a penalty shootout to determine which team got the bonus point.
3 points: won match
2 points: draw, win on penalties
1 point0: draw, loss on penalties
0 points: lost match
The tournament also featured an unofficial Apertura tournament to determine the two teams to qualify for the Copa Libertadores 1989. Racing Club and Boca Juniors were in the top two positions at the halfway stage of the season (after 19 games), and qualified.