The regular season began on March 11, 2023 with the opening ceremonies at the Quezon Convention Center in Lucena.
The league took two breaks during the regular season, during Holy Week and during the Philippines' co-hosting of the 2023 FIBA Basketball World Cup.
[1] The playoffs then began on October 6 and ended on December 2 when the Pampanga Giant Lanterns defeated the Bacoor City Strikers in three games in the 2023 MPBL finals.
Five teams also made their return to the league, which includes the Bicol Volcanoes, Bulacan Kuyas, Iloilo United Royals, Parañaque Patriots and Pasay Voyagers.
The tournament ran for one week from February 21–27, 2023 at the Lagao Gymnasium in General Santos, the home arena of the GenSan Warriors.
[1] The tournament was won by the Zamboanga Family's Brand Sardines after beating the Nueva Ecija Rice Vanguards in the final game with a score of 88–80, with Dexter Maiquez winning MVP honors.
Most of the league's individual awards were given out on November 28, 2023 before game 2 of the National Finals series at the Bren Z. Guiao Convention Center in San Fernando, Pampanga.
The league's youth-oriented counterpart, the Junior MPBL, began its inaugural 2023 season on July 9, 2023 at the Filoil EcoOil Centre in San Juan.
This season marked the second year of Cignal TV's ongoing television broadcast rights with the league.