The 1987 Philippine Basketball Association (PBA) rookie draft was an event in which teams drafted players from the amateur ranks. The draft was held on February 16, 1987. ^[1]

Pick	Player	Country of origin*	PBA team	College
1	Allan Caidic	Philippines	Great Taste Coffee Makers (from Formula Shell)	East
2	Al Solis	Philippines	Hills Bros. Coffee Kings	Visayas
3	Harmon Codiñera	Philippines	Ginebra San Miguel	Far Eastern
4	Cayetano Salazar	Philippines	Tanduay Rhum Makers	Letran

Pick	Player	Country of origin*	PBA team	College
	Anthony Mendoza	Philippines	Ginebra San Miguel	Visayas

• Shell traded their first round pick, along with Bernie Fabiosa and Philip Cezar, to Great Taste in exchange for Manny Victorino and Jimmy Manansala a week before the draft.
• Magnolia and Shell waived their rights to the amateur pool.

• Dennis Carbonilla
• Benjie Gutierrez
• Guillermo Valerio