February 3 - The Democratic-controlled United States House of Representatives rejects President Ronald Reagan's request for $36.25 million to support the Nicaraguan Contras.
February 12 - Anthony M. Kennedy is appointed to the Supreme Court of the United States.
February 13–28 - The 1988 Winter Olympics are held in Calgary, Alberta, Canada.
February 17 - A bomb explodes outside of the First National Bank in Oshakati, Namibia, killing 27 and injuring 70 others.
February 17 - U.S. Lieutenant Colonel William R. Higgins, serving with a United Nations group monitoring a truce in southern Lebanon, is kidnapped (he is later killed by his captors).
February 24 - Hustler Magazine v. Falwell: The Supreme Court of the United States sides with Hustler magazine by overturning a lower court decision to award Jerry Falwell $200,000 for defamation.
February 29 - A Nazi document implicates Kurt Waldheim in WWII deportations.
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