1987 PBA season

• Manila Beer disbanded its franchise at the start of the season, reducing the league's membership to only 6 teams, their players were absorbed by the rest of the PBA ballclubs. [1]
• The PBA, in partnership with a newly formed league called International Basketball Association (IBA) of the United States for players 6-4 and below, staged a successful mini-tournament for one week, featuring the top PBA All-Filipino teams and the US (IBA) Selection.
• Tanduay Rhum Makers, which won the Open Conference crown, were eliminated and finish last in the succeeding two conferences, announces that the team is headed for disbandment the following year, leaving only two founding members of the PBA (San Miguel and Great Taste).
• The San Miguel Beermen, behind best import Bobby Parks, won the Reinforced Conference crown and their third PBA title since returning in the third conference of last year. SMB coach Norman Black won his first championship as a mentor and he became the third American to steer his team to a PBA title after Jerry Webber and Ron Jacobs.

The muses for the participating teams are as follows:

• Open Conference: Tanduay Rhum Makers
• All-Filipino Conference: Great Taste Coffee Makers
• Reinforced Conference: San Miguel Beermen
• Team with best win-loss percentage: Magnolia/San Miguel Beermen (43-23, .652)
• Best Team of the Year: Great Taste Coffee Makers (3rd & Final)

• Most Valuable Player: Abet Guidaben (San Miguel)
• Rookie of the Year: Allan Caidic (Great Taste)
• Most Improved Player: Elpidio Villamin (Hills Bros.)
• Best Import-Open Conference: David Thirdkill (Tanduay)
• Best Import-Reinforced Conference: Bobby Parks (San Miguel)
• Mythical Five:
  • Philip Cezar (Great Taste)
  • Hector Calma (San Miguel)
  • Abet Guidaben (San Miguel)
  • Elpidio Villamin (Hills Bros.)
  • Allan Caidic (Great Taste)
• Mythical Second Team:
  • Ricardo Brown (Great Taste)
  • Arnie Tuadles (Great Taste)
  • Ramon Fernandez (Tanduay)
  • Bernardo Carpio (Great Taste)
  • Ricky Relosa (Hills Bros.)
• All-Defensive Team:
  • Chito Loyzaga (Ginebra)
  • Philip Cezar (Great Taste)
  • Elpidio Villamin (Hills Bros.)
  • Ricky Relosa (Hills Bros.)
  • Biboy Ravanes (Shell)