The USA experiment on ARGOS and RXTE have exensively observed the X-ray transient XTE J1118+480 during its recent outburst in 2000 April--June. We present detailed monitoring of the evolution of a low frequency QPO which drifts from 0.07 Hz to 0.15 Hz during the outburst. We examine possible correlations of the QPO frequency with the flux and spectral characteristics of the source, and compare this QPO to low frequency QPOs observed in other black hole candidates.