1991–92 Philippine Basketball League season

Triple-V won their second straight PBL title, defeating the defending Philippine Cup champions Sta.Lucia Realtors by coming back from a 1-2 series deficit to win the last two games.

The Sta.Lucia Realtors this time completed a 3-0 sweep and exact revenge over the Foodmasters for the Maharlika Cup title.

The semifinalists' won-loss records in the eliminations will not be carried over and they will start from scratch in order to accommodate guest entry Atlanta Fil-Am, a bunch of Fil-Am cagers from the States, led by the returning Eddie Joe Chavez, who played for the Philippine team under coach Ron Jacobs in the 1981 Jones Cup and among others, Jeffrey Cariaso from Sonoma State and Frank McKinney from University of Hawaii.

Triple-V advances in the finals first by beating Sta.Lucia, 73-71, on the last playing date of the semifinal round on December 12, forcing the Realtors in a playoff with Casino Rubbing Alcohol.

The Foodmasters, which acquired Johnny Abarrientos from the disbanded Crispa at the start of the conference, got back over the Realtors via 3-0 sweep in the Invitational Cup finals.