The 1988–89 NBA season was the Hawks' 40th season in the NBA and 21st season in Atlanta.^[1] After falling into the second round of the playoffs for three straight seasons, the Hawks signed free agent and All-Star forward Moses Malone, who won a championship with the Philadelphia 76ers in the 1983 NBA Finals,^{[2][3][4][5][6]} acquired All-Star guard Reggie Theus from the Sacramento Kings,^{[7][8][9][10]} and signed undrafted rookie forward Duane Ferrell during the off-season.^[11][12] However, Kevin Willis was out with a broken foot suffered during the preseason, and was later on suspended indefinitely for missing functions and rehabilitation therapy.^{[13][14][15][16]}

After winning their first three games of the season, the Hawks struggled losing six of their next nine games, leading to a 6–6 start. However, the team went on a six-game winning streak between November and December,^[17][18] posting an 11–3 record in December, and holding a 28–19 record at the All-Star break.^[19] The Hawks posted a nine-game winning streak in April, winning 12 of their final 14 games, finishing third in the Central Division with a 52–30 record, and reaching 50 wins for the fourth consecutive season.^[20]

Dominique Wilkins averaged 26.2 points, 6.9 rebounds and 1.5 steals per game, and was named to the All-NBA Third Team, while Malone averaged 20.2 points and 11.8 rebounds per game, and Theus provided the team with 15.8 points, 4.7 assists and 1.4 steals per game. In addition, Doc Rivers provided with 13.6 points, 6.9 assists and 2.4 steals per game, while John Battle contributed 9.5 points per game off the bench, Cliff Levingston averaged 9.2 points and 6.2 rebounds per game, and Jon Koncak contributed 6.1 rebounds and 1.3 blocks per game.^[21] Wilkins and Malone were both selected for the 1989 NBA All-Star Game, which was Malone's final All-Star appearance.^{[22][23][24][25][26]}

In the Eastern Conference First Round of the playoffs, the Hawks faced off against the 5th-seeded Milwaukee Bucks for the second consecutive year. However, after winning Game 1 at home, 100–92,^[27][28][29] the Hawks would lose to the Bucks in five games.^{[30][31][32][33]} Following the season, Theus was left unprotected in the 1989 NBA Expansion Draft, where he was selected by the newly expansion Orlando Magic.^{[34][35][36][37][38]}

One notable highlight of the season was the Hawks defeating the Philadelphia 76ers, 135–93 at The Omni on April 5, 1989; the Hawks got off to an 18–2 lead early in the game, and held a 78–37 lead at halftime. At one point during the game, they led by 50 points with a 130–80 lead late in the fourth quarter, when Hawks forward Antoine Carr hit a technical free throw with 2 minutes and 53 seconds left in the game.^{[39][40][41][42]}

• Dominique Wilkins, All-NBA Third Team