The 1998 Rodeo was completely overhauled to offer a brand new design. It was more stylish, had a roomier and more amenity-rich interior, and the new V6 engine offered a punchiness that was lacking in previous Rodeo models. The new design was able to transport more passengers and haul more cargo, too. In 1999, Isuzu made some minute changes to the optional equipment and standard features on the Preferred Equipment Package. They also added a new trim level: LSE. In 2000, the Rodeos exterior was completely redesigned to make it more modern and appealing. The interior was fully upgraded, too, offering new creature comforts.
The 2001 Anniversary Edition trim package featured a dual-tone paint job, attractive leather seating and chromed wheels that were signature to this model year. In 2002, new model options were added and the popular Intelligent Suspension Control (ISC) system was revamped. The 2003 model year for the Rodeo saw no changes made by Isuzu. In 2004, the Rodeo got an upgraded 3.5-liter V6 engine that made 250 horsepower, but was only available in an upgraded trim level. A new Sound Package and a new Color Package were also added as was a brand new monitoring system for the tire pressure.