The men's 5000 metres walk event at the 1989 IAAF World Indoor Championships was held at the Budapest Sportcsarnok in Budapest on 5 March.
| Rank | Name | Nationality | Time | Notes | |
|---|---|---|---|---|---|
| 18:27.10 | WR, CR | ||||
| 18:28.90 | PB | ||||
| 18:34.07 | PB | ||||
| 18:34.77 | NR | ||||
| 18:40.87 | NR | ||||
| 18:41.34 | PB | ||||
| 19:24.12 | PB | ||||
| 189:25.24 | PB | ||||
| 19:25.24 | NR | ||||
| 10 | 20:18.99 | ||||
| 11 | 21:06.14 | ||||