The 1987 Philippine Basketball Association (PBA) All-Filipino Conference was the second conference of the 1987 PBA season. It started on July 12 and ended on September 8, 1987. The tournament is an All-Filipino format, which doesn't require an import or a pure-foreign player for each team.^[1]

The following format will be observed for the duration of the conference:

• The teams were divided into 2 groups.

• Teams in a group will play against each other once and against teams in the other group twice; 8 games per team; Teams are then seeded by basis on win–loss records. Ties are broken among point differentials of the tied teams. Standings will be determined in one league table; teams do not qualify by basis of groupings.
• The team with the worst record will be eliminated after the elimination round.^[2]
• Semifinals will be two round robin affairs with the remaining five teams.
• The top two teams in the semifinals advance to the best of five Finals. The last two teams dispute the third-place trophy in a best of five playoff and the right to the last slot allocated for the IBA-PBA tournament.^[3]