We present the results from an XMM-Newton observation ( January 24 , 2001 ) of the bright Seyfert 1 galaxy ESO 198-G24 ( z=0.045 ) . We found that this Seyfert has an intrinsic 2–10 keV luminosity of about 10 ^ { 44 } erg s ^ { -1 } . This source shows no intrinsic absorption in addition to the Galactic absorption ( { \cal N } _ { H } \sim 3 \times 10 ^ { 20 } cm ^ { -2 } ) . We found both with EPIC and RGS that this source possesses significantly steeper spectra below \sim 1.5–2 keV than observed at higher X-ray energies , the so-called soft X-ray excess . The RGS spectra reveal no significant narrow absorption lines suggesting that if there is a warm absorber , it either has a relatively low column density , or a very high ionization parameter . The RGS data are well described by the combination of a power-law , a modified black body continuum , and weak relativistic lines of O viii , and C vi Ly _ { \alpha } . However other interpretations are not definitely excluded . The 2–10 keV energy band is well fitted by an absorbed power-law with a photon spectral index of \Gamma =1.77 \pm 0.04 ( consistent with the typical \Gamma \sim 1.7 found in Seyfert 1 galaxies ) . We found the presence of a narrow Gaussian emission line at 6.41 keV ( i.e < Fe xvii ) with a moderate equivalent width of about 60–70 eV , and we found an upper limit for a broad component , if any , of 75 eV . We also found a weak absorption edge associated with cold iron with an optical depth of about 0.2 .