The tournament celebrated the fiftieth anniversary of Emperor Franz Joseph I of Austria's ascension to the throne of Austria-Hungary. Main organiser was Baron Albert Freiherr von Rothschild who also financed the Vienna tournaments of 1873, 1882, 1903, and 1908. The players visited his Heugasse palace on 31 May 1898. Rounds were played in the club house of the Wiener Schachklub at Schottengasse 7. Hugo Fahndrich was the tournament director at Kaiser Jubiläumsturnier 1898. The time limit was thirty moves in two hours. Twenty great masters (only Emanuel Lasker and Rudolf Charousek were absent at Kaiser-Jubiläumsturnier) played double rounds from 1 to 25 July.