Engine light on, o2 sensor bad, knocing sound from top of engine?

Hi, i have honda prelude 98.manual. The problem started with knocing sound from engine for few days! Then all of sudden engine check light comes on! I got engine light checked! It comes o2 sensor bad! Car rpm is really low now touches zero and get back to 200/300 when in neutral

There's no actual code for a bad O2 sensor. There are dozens of codes that mention the O2 sensor and only a couple point at the sensor itself, so it is important just what the code number is. At any rate, an O2 sensor can't cause the symptoms your engine has.

The symptoms don't really come together for me, particularly the knock and then the delay before the other symptoms. I think a diagnosis from a professional will save you a lot of aggravation and money.

It sounds like you could have a misfire. Bad plug/wire/coil. If you drove it that way for a while, it could foul your o2 sensor, and possibly kill your catalytic converter.

You should have multiple check engine codes, not just the O2 sensor.

Often a knocking sound is probably a spun rod bearing causing the piston to hit the bottom of the head. I think your engine is pretty much gone, if you have near 200,000 you got your monies worth on a 1998.