Water polo at the 1988 Summer Olympics as usual was part of the swimming sport, the other two being swimming and diving. They were not seen as three separate sports, because they all were governed by one federation — FINA. Water polo discipline consisted of one event: the men's team competition.
Preliminary round
Group A • 21 September • Italy 9-9 Soviet Union • France 16-5 South Korea • Australia 11-13 West Germany • 22 September • South Korea 1-11 Italy • France 9-10 West Germany • Australia 4-11 Soviet Union • 23 September • South Korea 2-18 West Germany • Australia 5-7 Italy • France 4-18 Soviet Union • 26 September • Italy 7-10 West Germany • South Korea 4-17 Soviet Union • France 6-7 Australia • 27 September • France 8-14 Italy • Australia 13-2 South Korea • Soviet Union 8-9 West Germany ---- Group B • 21 September • Hungary 12-10 Greece • United States 7-6 Yugoslavia • China 6-13 Spain • 22 September • Greece 10-7 China • United States 7-9 Spain • Hungary 9-10 Yugoslavia • 23 September • United States 14-7 China • Greece 7-17 Yugoslavia • Hungary 6-6 Spain • 26 September • United States 18-9 Greece • Hungary 14-7 China • Spain 8-10 Yugoslavia • 27 September • Greece 9-12 Spain • Hungary 9-10 United States • Yugoslavia 17-7 China ---- ==Final round==
Final round
Semi finals • 30 September • West Germany 10-14 Yugoslavia • Soviet Union 7-8 United States Bronze medal match • 1 October • West Germany 13-14 Soviet Union Final • 1 October • Yugoslavia 9-7 United States ---- Group D • 30 September • Italy 9-9 Hungary • Australia 8-7 Spain • 1 October • Australia 5-13 Hungary • Italy 9-11 Spain ---- Group E • 30 September • France 11-4 China • South Korea 7-17 Greece • 1 October • South Korea 7-14 China • France 7-10 Greece ---- ==Final ranking==