Souled Out 1997, and also known as nWo Souled Out took place on January 25, 1997 from the Five Seasons Center in Cedar Rapids, Iowa. This was an nWo sponsored PPV, all of the matches were nWo versus WCW. WCW president/nWo member Eric Bischoff and Ted DiBiase provided commentary. The nWo referee, Nick Patrick, officiated all the matches. No WCW wrestler was allowed to have theme music while the appropriate nWo theme songs played for the various members of the group.
- Masahiro Chono defeated Chris Jericho
- Big Bubba Rogers defeated Hugh Morrus (with Jimmy Hart) in a Mexican Death match
- Jeff Jarrett defeated Mr. Wallstreet
- Buff Bagwell defeated Scotty Riggs
- Scott Norton defeated Diamond Dallas Page by count-out
- The Steiner Brothers (Rick and Scott) defeated The Outsiders (Kevin Nash and Scott Hall) to win the WCW World Tag Team Championship.
- Eddie Guerrero defeated Syxx in a Ladder match to retain the WCW United States Championship
- WCW World Heavyweight Champion Hollywood Hogan fought The Giant to a no-contest