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| Arena(s) | Filoil Flying V Arena | ||||||||||||
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| Finals MVP |  Rissa Jane Laguilles | ||||||||||||
| Semifinalists |   Lyceum Lady Pirates | ||||||||||||
| TV network(s) | NBN | ||||||||||||
The V-League 5th Season 1st Conference is a tournament of the Shakey's V-League. The tournament began on March 30, 2008 and ended on May 30, 2008 at The Arena in the city of San Juan.
Joining are NCR teams Ateneo de Manila University, Adamson University, College of Saint Benilde, Far Eastern University, Lyceum of the Philippines University, San Sebastian College - Recoletos, and Visayas teams University of Saint La Salle and University of San Jose - Recoletos
Adamson University finally broke its runner-up "curse" by winning over Ateneo de Manila University in two games to none in the finals series. This makes them the third champion team, alongside University of Santo Tomas and De La Salle University.