The Arena Naucalpan 21st Anniversary Show was a major annual professional wrestling event produced and scripted by the Mexican professional wrestling promotion International Wrestling Revolution Group (IWRG), which took place on December 20, 1998 in Arena Naucalpan, Naucalpan, State of Mexico, Mexico. As the name implies the show celebrated the 21st Anniversary of the construction of Arena Naucalpan, IWRG's main venue in 1977. The show is IWRG's longest running show, predating IWRG being founded in 1996 and is the fourth oldest, still held annual show in professional wrestling.

The focal point of the 21st Anniversary show was a 16-man Ruleta de la Muerte (Spanish for "Roulette of death") tournament where the losing teams would advance in the tournament. In the end tag team partners Mega and Judo Suwa were forced to wrestle each other after having lost all three tournament matches. Mega won the Lucha de Apuestas ("Bet match") and as a result Judo Suwa was forced to have all his hair shaved off.

The location at Calle Jardín 19, Naucalpan Centro, 53000 Naucalpan de Juárez, México, Mexico was originally an indoor roller rink for the locals in the late part of the 1950s known as "Cafe Algusto". By the early-1960s, the building was sold and turned into "Arena KO Al Gusto" and became a local lucha libre or professional wrestling arena, with a ring permanently set up in the center of the building. Promoter Adolfo Moreno began holding shows on a regular basis from the late 1960s, working with various Mexican promotions such as Empresa Mexicana de Lucha Libre (EMLL) to bring lucha libre to Naucalpan. By the mid-1970s the existing building was so run down that it was no longer suitable for hosting any events. Moreno bought the old build and had it demolished, building Arena Naucalpan on the same location, becoming the permanent home of Promociones Moreno. Arena Naucalpan opened its doors for the first lucha libre show on December 17, 1977. From that point on the arena hosted regular weekly shows for Promociones Moreno and also hosted EMLL and later Universal Wrestling Association (UWA) on a regular basis. In the 1990s the UWA folded and Promociones Moreno worked primarily with EMLL, now rebranded as Consejo Mundial de Lucha Libre (CMLL).

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