The 1997–98 Edmonton Oilers season was the Oilers' 19th season in the NHL, and they were coming off a 36–37–9 record in 1996–97, earning their first Stanley Cup playoff spot in five seasons. The Oilers then defeated the heavily favoured Colorado Avalanche before losing to the Dallas Stars in the second round.

Edmonton began the season slowly, and on January 4, with a record of 11–22–9, the Oilers traded Jason Arnott and Bryan Muir to the New Jersey Devils in exchange for Bill Guerin and Valeri Zelepukin. The trade seemed to spark Edmonton, as they finished the year 24–15–1, making the playoffs for the second-straight season after finishing in seventh place in the Western Conference.

Offensively, Doug Weight had another solid season, leading the Oilers in goals (26), assists (44) and points (70). Ryan Smyth was the only other player to score at least 20 goals for the team. Dean McAmmond had a breakout season, finishing second to Weight with 50 points, as well as third in goals, with 19. Bill Guerin had a solid half season in Edmonton, scoring 13 goals and 29 points in 40 games. Boris Mironov would lead the defence with 16 goals and 46 points, while Drake Berehowsky would lead the team with 169 penalty minutes.

In goal, Curtis Joseph got the majority of playing time, winning 29 games, posting a goals against average (GAA) of 2.63 and setting the club record with shutouts in a season at eight. Bob Essensa backed him up once again, contributing a solid GAA of 2.55 and winning six games. The Oilers also tied the Dallas Stars for most power-play goals scored (77) and finished with the most power-play opportunities (483) in the League.

On March 2, 1998, Scott Fraser scored just 11 seconds into the overtime period to give the Oilers a 5-4 road win over the Colorado Avalanche. It would prove to be the fastest overtime goal scored during the 1997–98 regular season.

The Oilers opened the playoffs against the Pacific Division-winning Colorado Avalanche, who eliminated Edmonton from the playoffs the previous spring, and finished with 15 more points during the regular season. The Oilers, however, surprised the Avalanche in the opening game, winning 3–2, but Colorado stormed back to win three in a row to go up 3–1 in the series. The Oilers held off the Avalanche in Game 5 with a 3–1 in Denver, then returned home for game 6 to shut-out Colorado 2–0, forcing a deciding Game 7. Curtis Joseph earned his second-straight shutout in the series, as Edmonton won 4–0 and the series 4–3, eliminating the heavily favoured Avalanche.

In the second round, Edmonton played against Dallas, whom the Oilers defeated the previous year in the opening round. The Stars finished with an NHL-best 109 points in the regular season. The Stars beat Edmonton in the first game, but Curtis Joseph shut-out Dallas in Game 2, evening the series as it returned to Edmonton for the next two games. The third game was scoreless in regulation time, though the Stars scored in the first overtime period to take a 2–1 series lead. The Oilers' offence then went dry as they scored only two goals in the next two games, losing both, and the series 4–1.

Season standings

Schedule and results

Regular season

| 1 || October 1 || Edmonton Oilers || 5 – 3 || San Jose Sharks || || Joseph || 16,769 || 1–0–0 || 2 ||

| 2 || October 3 || Detroit Red Wings || 8 – 2 || Edmonton Oilers || || Joseph || 17,099 || 1–1–0 || 2 ||

| 3 || October 5 || Colorado Avalanche || 3 – 0 || Edmonton Oilers || || Joseph || 16,093 || 1–2–0 || 2 ||

| 4 || October 8 || New York Rangers || 3 – 3 || Edmonton Oilers || OT || Joseph || 16,573 || 1–2–1 || 3 ||

| 5 || October 11 || Toronto Maple Leafs || 1 – 2 || Edmonton Oilers || || Joseph || 17,099 || 2–2–1 || 5 ||

| 6 || October 13 || Edmonton Oilers || 0 – 3 || Vancouver Canucks || || Essensa || 14,535 || 2–3–1 || 5 ||

| 7 || October 15 || Colorado Avalanche || 6 – 2 || Edmonton Oilers || || Joseph || 15,972 || 2–4–1 || 5 ||

| 8 || October 17 || Edmonton Oilers || 1 – 2 || Mighty Ducks of Anaheim || || Essensa || 16,565 || 2–5–1 || 5 ||

| 9 || October 19 || Edmonton Oilers || 3 – 2 || Los Angeles Kings || OT || Joseph || 11,279 || 3–5–1 || 7 ||

| 10 || October 21 || Boston Bruins || 2 – 1 || Edmonton Oilers || || Joseph || 14,870 || 3–6–1 || 7 ||

| 11 || October 24 || Pittsburgh Penguins || 3 – 4 || Edmonton Oilers || || Joseph || 17,099 || 4–6–1 || 9 ||

| 12 || October 29 || Phoenix Coyotes || 2 – 3 || Edmonton Oilers || || Joseph || 14,390 || 5–6–1 || 11 ||

| 13 || November 1 || Edmonton Oilers || 1 – 3 || Boston Bruins || || Joseph || 13,969 || 5–7–1 || 11 ||

| 14 || November 3 || Edmonton Oilers || 2 – 2 || New York Rangers || OT || Joseph || 18,200 || 5–7–2 || 12 ||

| 15 || November 5 || Edmonton Oilers || 4 – 4 || New York Islanders || OT || Joseph || 9,036 || 5–7–3 || 13 ||

| 16 || November 6 || Edmonton Oilers || 2 – 6 || Philadelphia Flyers || || Essensa || 19,348 || 5–8–3 || 13 ||

| 17 || November 8 || Edmonton Oilers || 1 – 2 || Washington Capitals || || Joseph || 10,397 || 5–9–3 || 13 ||

| 18 || November 10 || Edmonton Oilers || 4 – 4 || Buffalo Sabres || OT || Joseph || 13,628 || 5–9–4 || 14 ||

| 19 || November 12 || Carolina Hurricanes || 6 – 4 || Edmonton Oilers || || Joseph || 14,240 || 5–10–4 || 14 ||

| 20 || November 15 || Calgary Flames || 2 – 2 || Edmonton Oilers || OT || Joseph || 17,099 || 5–10–5 || 15 ||

| 21 || November 17 || Edmonton Oilers || 3 – 6 || Phoenix Coyotes || || Joseph || 14,686 || 5–11–5 || 15 ||

| 22 || November 19 || Edmonton Oilers || 2 – 3 || Dallas Stars || || Joseph || 15,783 || 5–12–5 || 15 ||

| 23 || November 20 || Edmonton Oilers || 3 – 0 || St. Louis Blues || || Joseph || 15,988 || 6–12–5 || 17 ||

| 24 || November 22 || Edmonton Oilers || 1 – 0 || Ottawa Senators || || Joseph || 17,113 || 7–12–5 || 19 ||

| 25 || November 25 || Chicago Blackhawks || 2 – 2 || Edmonton Oilers || OT || Joseph || 14,473 || 7–12–6 || 20 ||

| 26 || November 28 || Mighty Ducks of Anaheim || 3 – 1 || Edmonton Oilers || || Joseph || 17,099 || 7–13–6 || 20 ||

| 27 || November 30 || San Jose Sharks || 1 – 6 || Edmonton Oilers || || Joseph || 14,739 || 8–13–6 || 22 ||

| 28 || December 2 || Edmonton Oilers || 2 – 4 || Colorado Avalanche || || Joseph || 16,061 || 8–14–6 || 22 ||

| 29 || December 3 || Edmonton Oilers || 1 – 4 || Dallas Stars || || Joseph || 14,241 || 8–15–6 || 22 ||

| 30 || December 5 || Detroit Red Wings || 1 – 3 || Edmonton Oilers || || Essensa || 17,099 || 9–15–6 || 24 ||

| 31 || December 7 || Edmonton Oilers || 3 – 3 || Chicago Blackhawks || OT || Joseph || 15,591 || 9–15–7 || 25 ||

| 32 || December 10 || Edmonton Oilers || 2 – 4 || New Jersey Devils || || Joseph || 13,831 || 9–16–7 || 25 ||

| 33 || December 12 || Edmonton Oilers || 3 – 2 || Detroit Red Wings || || Essensa ||| 19,983 || 10–16–7 || 27 ||

| 34 || December 13 || Edmonton Oilers || 4 – 1 || St. Louis Blues || || Joseph || 17,207 || 11–16–7 || 29 ||

| 35 || December 17 || Chicago Blackhawks || 0 – 0 || Edmonton Oilers || OT || Joseph || 15,431 || 11–16–8 || 30 ||

| 36 || December 20 || Dallas Stars || 2 – 1 || Edmonton Oilers || OT || Joseph || 17,099 || 11–17–8 || 30 ||

| 37 || December 22 || Edmonton Oilers || 3 – 3 || Montreal Canadiens || OT || Essensa || 20,731 || 11–17–9 || 31 ||

| 38 || December 23 || Edmonton Oilers || 4 – 5 || Toronto Maple Leafs || || Joseph || 15,726 || 11–18–9 || 31 ||

| 39 || December 27 || Colorado Avalanche || 5 – 1 || Edmonton Oilers || || Joseph || 17,099 || 11–19–9 || 31 ||

| 40 || December 30 || Philadelphia Flyers || 3 – 1 || Edmonton Oilers || || Joseph || 17,099 || 11–20–9 || 31 ||

| 41 || January 2 || Montreal Canadiens || 5 – 3 || Edmonton Oilers || || Joseph || 17,099 || 11–21–9 || 31 ||

| 42 || January 4 || Los Angeles Kings || 3 – 2 || Edmonton Oilers || || Joseph || 16,266 || 11–22–9 || 31 ||

| 43 || January 7 || Florida Panthers || 2 – 3 || Edmonton Oilers || || Joseph || 14,797 || 12–22–9 || 33 ||

| 44 || January 9 || Edmonton Oilers || 5 – 1 || Mighty Ducks of Anaheim || || Joseph || 17,174 || 13–22–9 || 35 ||

| 45 || January 10 || Edmonton Oilers || 4 – 3 || Los Angeles Kings || || Joseph || 16,005 || 14–22–9 || 37 ||

| 46 || January 12 || St. Louis Blues || 1 – 2 || Edmonton Oilers || || Joseph || 14,872 || 15–22–9 || 39 ||

| 47 || January 14 || Calgary Flames || 2 – 5 || Edmonton Oilers || || Joseph || 17,099 || 16–22–9 || 41 ||

| 48 || January 20 || Phoenix Coyotes || 2 – 6 || Edmonton Oilers || || Joseph || 14,842 || 17–22–9 || 43 ||

| 49 || January 23 || Edmonton Oilers || 2 – 3 || San Jose Sharks || || Joseph || 17,483 || 17–23–9 || 43 ||

| 50 || January 24 || Edmonton Oilers || 5 – 2 || Phoenix Coyotes || || Essensa || 15,826 || 18–23–9 || 45 ||

| 51 || January 26 || Edmonton Oilers || 1 – 2 || Colorado Avalanche || OT || Joseph || 16,061 || 18–24–9 || 45 ||

| 52 || January 28 || New Jersey Devils || 1 – 1 || Edmonton Oilers || OT || Joseph || 17,099 || 18–24–10 || 46 ||

| 53 || January 31 || Vancouver Canucks || 6 – 3 || Edmonton Oilers || || Joseph || 17,099 || 18–25–10 || 46 ||

| 54 || February 2 || Los Angeles Kings || 0 – 1 || Edmonton Oilers || || Joseph || 14,403 || 19–25–10 || 48 ||

| 55 || February 4 || San Jose Sharks || 3 – 0 || Edmonton Oilers || || Joseph || 15,251 || 19–26–10 || 48 ||

| 56 || February 6 || Edmonton Oilers || 4 – 5 || Vancouver Canucks || || Joseph || 17,421 || 19–27–10 || 48 ||

| 57 || February 7 || Edmonton Oilers || 2 – 4 || Calgary Flames || || Essensa || 18,719 || 19–28–10 || 48 ||

| 58 || February 25 || Ottawa Senators || 2 – 5 || Edmonton Oilers || || Essensa || 16,142 || 20–28–10 || 50 ||

| 59 || February 27 || Mighty Ducks of Anaheim || 4 – 0 || Edmonton Oilers || || Essensa || 17,099 || 20–29–10 || 50 ||

| 60 || February 28 || San Jose Sharks || 1 – 4 || Edmonton Oilers || || Joseph || 17,099 || 21–29–10 || 52 ||

| 61 || March 2 || Edmonton Oilers || 5 – 4 || Colorado Avalanche || OT || Essensa || 16,061 || 22–29–10 || 54 ||

| 62 || March 4 || Tampa Bay Lightning || 2 – 4 || Edmonton Oilers || || Joseph || 14,640 || 23–29–10 || 56 ||

| 63 || March 7 || Edmonton Oilers || 1 – 4 || Toronto Maple Leafs || || Joseph || 15,726 || 23–30–10 || 56 ||

| 64 || March 9 || Edmonton Oilers || 4 – 3 || Chicago Blackhawks || OT || Joseph || 17,900 || 24–30–10 || 58 ||

| 65 || March 11 || Edmonton Oilers || 2 – 0 || Tampa Bay Lightning || || Joseph || 15,319 || 25–30–10 || 60 ||

| 66 || March 13 || Edmonton Oilers || 4 – 0 || Florida Panthers || || Joseph || 14,703 || 26–30–10 || 62 ||

| 67 || March 15 || Edmonton Oilers || 1 – 4 || Carolina Hurricanes || || Joseph || 7,853 || 26–31–10 || 62 ||

| 68 || March 17 || Edmonton Oilers || 3 – 4 || Detroit Red Wings || || Essensa || 19,983 || 26–32–10 || 62 ||

| 69 || March 18 || Edmonton Oilers || 2 – 4 || Pittsburgh Penguins || || Joseph || 14,327 || 26–33–10 || 62 ||

| 70 || March 21 || St. Louis Blues || 0 – 2 || Edmonton Oilers || || Joseph || 17,099 || 27–33–10 || 64 ||

| 71 || March 22 || New York Islanders || 3 – 1 || Edmonton Oilers || || Joseph || 16,731 || 27–34–10 || 64 ||

| 72 || March 25 || Washington Capitals || 2 – 4 || Edmonton Oilers || || Joseph || 15,130 || 28–34–10 || 66 ||

| 73 || March 27 || Buffalo Sabres || 1 – 0 || Edmonton Oilers || || Joseph || 17,099 || 28–35–10 || 66 ||

| 74 || March 30 || Calgary Flames || 1 – 3 || Edmonton Oilers || || Joseph || 17,099 || 29–35–10 || 68 ||

| 75 || April 1 || Edmonton Oilers || 2 – 4 || Vancouver Canucks || || Joseph || 15,662 || 29–36–10 || 68 ||

| 76 || April 3 || Dallas Stars || 1 – 4 || Edmonton Oilers || || Joseph || 17,099 || 30–36–10 || 70 ||

| 77 || April 6 || Vancouver Canucks || 2 – 3 || Edmonton Oilers || || Joseph || 17,099 || 31–36–10 || 72 ||

| 78 || April 8 || Edmonton Oilers || 2 – 4 || Mighty Ducks of Anaheim || || Joseph || 17,174 || 31–37–10 || 72 ||