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Date: 29 September 1988 / 1 October 1988
Heats
Final
| Rank | Name | Nation | Time |
| 1 | Paula Ivan | ROU | 3:53.96 |
| 2 | Lailoute Baikauskaite | URS | 4:00.24 |
| 3 | Tatiana Samolenko | URS | 4:00.30 |
| 4 | Christina Cahill | GBR | 4:00.64 |
| 5 | Lynn Williams | CAN | 4:00.86 |
| 6 | Andrea Hahmann | GDR | 4:00.96 |
| 7 | Shireen Bailey | GBR | 4:02.32 |
| 8 | Mary Slaney | USA | 4:02.49 |
| 9 | Doina Melinte | ROU | 4:02.89 |
| 10 | Fatima Aouam | MAR | 4:08.00 |
| 11 | Kim Gallagher | USA | 4:16.25 |
| 12 | Deborah Bowker | CAN | 4:17.95 |
| Heats | |||
| 13 | Elisa Van Hulst | NED | 4:07.40 |
| 14 | Hassiba Boulmerka | ALG | 4:08.33 |
| 15 | Kirsty Wade | GBR | 4:08.37 |
| 16 | Lioubov Gurina | URS | 4:08.59 |
| 17 | Angela Chalmers | CAN | 4:08.64 |
| 18 | Vera Michallek | FRG | 4:10.05 |
| 19 | Susan Sirma | KEN | 4:10.13 |
| 20 | Cornelia Buerki | SUI | 4:10.89 |
| 21 | Regina Jacobs | USA | 4:18.09 |
| 22 | Letitia Vriesde | SUR | 4:19.58 |
| 23 | Khinkhinhtwe | MYA | 4:20.92 |
| 24 | Noh Hea-Soon | KOR | 4:26.05 |
| 25 | Daphrose Nyiramutuzo | RWA | 4:32.31 |
| 26 | Laverne Bryan | ANT | 4:39.73 |
| 27 | Polonie Avek | PNG | 4:46.49 |
| 28 | Rachel Thompson | SLE | 5:31.42 |