Course disputée sur le circuit de Phillip Island
| Position | Numéro | Pilote | Team | Temps | Tours | Points | Départ |
|---|---|---|---|---|---|---|---|
| 1 | 46 | Valentino Rossi | Nastro Azzurro Team | 11:13:03 | 27 | 25 | 2 |
| 2 | 3 | Max Biaggi | Marlboro Yamaha Team | 11:13:16 | 27 | 20 | 1 |
| 3 | 65 | Loris Capirossi | West Honda Pons | 11:22:44 | 27 | 16 | 6 |
| 4 | 4 | Alex Barros | West Honda Pons | 11:24:57 | 27 | 13 | 3 |
| 5 | 11 | Tohru Ukawa | Repsol Ypf Honda Team | 11:34:31 | 27 | 11 | 8 |
| 6 | 19 | Olivier Jacque | Gauloises Yamaha Tech3 | 11:55:17 | 27 | 10 | 5 |
| 7 | 56 | Shinya Nakano | Gauloises Yamaha Tech3 | 11:56:02 | 27 | 9 | 9 |
| 8 | 41 | Noriyuki Haga | Red Bull Yamaha WCM | 11:56:05 | 27 | 8 | 11 |
| 9 | 15 | Sete Gibernau | Telefonica Movistar Suzuki | 12:00:15 | 27 | 7 | 4 |
| 10 | 17 | Jurgen vd Goorbergh | Proton Team KR | 16:37:06 | 27 | 6 | 15 |
| 11 | 28 | Alex Criville | Repsol Ypf Honda Team | 16:46:23 | 27 | 5 | 13 |
| 12 | 14 | Anthony West | Dee Cee Jeans Racing Team | 16:51:26 | 27 | 4 | 16 |
| 13 | 6 | Norifumi Abe | Antena 3 Yamaha d\'Antin | 17:03:46 | 27 | 3 | 10 |
| 14 | 12 | Nobuatsu Aoki | Arie Molenaar Racing | 17:09:03 | 27 | 2 | 17 |
| 15 | 1 | Kenny Jr Roberts | Telefonica Movistar Suzuki | 19:28:41 | 27 | 1 | 12 |
| 16 | 7 | Carlos Checa | Marlboro Yamaha Team | 19:33:26 | 27 | 0 | 7 |
| 17 | 16 | Johan Stigefelt | Sabre Sport | 08:58:52 | 27 | 0 | 19 |
| 18 | 21 | Barry Veneman | Dee Cee Jeans Racing Team | 10:45:56 | 27 | 0 | 21 |
| 19 | 9 | Leon Haslam | Shell Advance Honda | 10:47:11 | 27 | 0 | 20 |
| 20 | 18 | Brendan Clarke | Shell Advance Honda | 19:19:01 | 26 | 0 | 22 |
| 21 | 5 | Garry McCoy | Red Bull Yamaha WCM | 20:17:02 | 9 | 0 | 14 |
| 22 | 10 | Jose Luis Cardoso | Antena 3 Yamaha d\'Antin | 19:09:08 | 21 | 0 | 18 |