| Rank | Lane | Name | Nationality | Time | Notes |
| - | 4 | Ian Thorpe | Australia | 3:40.59 | WR |
| - | 5 | Massimiliano Rosolino | Italy | 3:43.40 | EU |
| - | 7 | Klete Keller | United States | 3:47.00 | AM |
| 4 | 6 | Emiliano Brembilla | Italy | 3:47.01 | - |
| 5 | 1 | Dragoș Coman | Romania | 3:47.38 | NR |
| 6 | 2 | Chad Carvin | United States | 3:47.58 | - |
| 7 | 8 | Grant Hackett | Australia | 3:48.22 | - |
| 8 | 3 | Ryk Neethling | South Africa | 3:48.52 | - |