1998–99 Philippine Basketball League season
|1998–99 PBL season|
|Duration||April 18, 1998 – January 21, 1999|
|Number of teams||7|
|TV partner(s)||Silverstar Sports (PTV)|
|1st Centennial Cup champions||Tanduay Centennial Rhum Masters|
|Runners-up||Batang Red Bull Energy Kings|
|2nd Centennial Cup champions||Dr.J Rubbing Alcohol|
|Runners-up||Tanduay Centennial Rhum Masters|
|Season MVP||Eric Menk|
The 1998–99 season of the Philippine Basketball League (PBL).
PTV 4, in partnership with Silverstar Sports as the line producer, covered the PBL games.
Participating teams (coach)
- Batang Red Bull (Nat Canson)
- Dr.J Rubbing Alcohol (Leo Isaac)
- Zest-O Juice Drink (Mollet Pineda) *Didn't participate in the 2nd conference
- Welcoat Paints (Gabby Velasco)
- Tanduay Centennial Rhum (Alfrancis Chua)
- Chowking Oriental Fastfood (Leo Austria)
- Wilkins Distilled Water (Arlene Rodriguez) *Didn't participate in the 2nd conference
- Blu Detergent *New team in the 2nd conference
- Paralux Auto Paints *New team in the 2nd conference
1998 (1st) Centennial Cup
|Tanduay Centennial Rhum 71, Batang Red Bull 65|
|Tanduay wins series, 3-0|
Tanduay scored a 3–0 sweep over Batang Red Bull in the 1st Yakult-PBL Centennial Cup finals, the Rhum Masters clinch the title with a 71-65 victory in Game 3. 
1999 (2nd) Centennial Cup
Tanduay Rhum Masters strung up 18 straight victories (18-0) in the 2nd Yakult-PBL Centennial Cup before newcomer Blu Detergents halted their winning run. Tanduay wound up with a 19-1 win-loss record going into the finals.
Dr.J Ana Water Dispenser won their first-ever PBL crown with a 3-2 series win over Tanduay and denied the Rhum Masters on what could have been a grand exit for the multi-titled ballclub as the Lucio Tan franchise leaped to the pro ranks.
A PBL All-Star game was held in December 1998, Eric Menk of Tanduay leads the PBL-UAAP selection while Asi Taulava of Blu Detergent beef up the PBL-NCAA Hapee selection. The North vs South All-Star game had Yakult-South being coach by Leo Austria while the North All-Stars was handled by Gabby Velasco.
Women's Philippine Basketball League (WPBL)
PBL Commissioner Yeng Guiao came up with the formation of the first-ever women's league in the PBL in mid-October to spice up the 2nd conference, among the teams which participated in the Women's Philippine Basketball League are Dr J/Ana Dispenser, Dreyers Ice Cream, Welcoat Paints, Ever Bilena, Tanduay, Chowking and Paralux/Ironcon. Notable WPBL cagebelles were former RP team members Mitchell Jimenez (Paralux), Ana Marie Tinasas (Dreyers), Joanna Franquelli (Ana Dispenser), Mary Ellen Caasi and Cherry Maralit (Welcoat), and 4-time SEA games campaigner and silver medal winning-RP team in the Chiang Mai games, Julie Amos of Ever Bilena.