<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE JOHN
HANCOCK VARIABLE SERIES TRUST I ANNUAL REPORT DATED DECEMBER 31, 1998 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
   <NUMBER> 02
   <NAME> SOVEREIGN BOD
<MULTIPLIER> 1000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                          851,738
<INVESTMENTS-AT-VALUE>                         891,650
<RECEIVABLES>                                   19,541
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 911,191
<PAYABLE-FOR-SECURITIES>                         3,856
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          214
<TOTAL-LIABILITIES>                              4,070
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       882,112
<SHARES-COMMON-STOCK>                           91,429
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                          178
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          3,988
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        20,843
<NET-ASSETS>                                   907,121
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               60,699
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   2,459
<NET-INVESTMENT-INCOME>                         58,240
<REALIZED-GAINS-CURRENT>                        12,121
<APPREC-INCREASE-CURRENT>                      (3,300)
<NET-CHANGE-FROM-OPS>                           67,061
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (58,240)
<DISTRIBUTIONS-OF-GAINS>                      (12,168)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         12,001
<NUMBER-OF-SHARES-REDEEMED>                    (8,405)
<SHARES-REINVESTED>                              7,044
<NET-CHANGE-IN-ASSETS>                         103,351
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            2,128
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  2,459
<AVERAGE-NET-ASSETS>                           851,016
<PER-SHARE-NAV-BEGIN>                             9.95
<PER-SHARE-NII>                                   0.69
<PER-SHARE-GAIN-APPREC>                           0.11
<PER-SHARE-DIVIDEND>                            (0.69)
<PER-SHARE-DISTRIBUTIONS>                       (0.14)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.92
<EXPENSE-RATIO>                                   0.29
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>