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| Duration | November 28–30, 2008 | ||||||||||||
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| Arena(s) | The Arena in San Juan | ||||||||||||
| Finals MVP | Suzanne Roces | ||||||||||||
| Semifinalists |  De La Salle Lady Archers Adamson Lady Falcons | ||||||||||||
| TV network(s) | NBN | ||||||||||||
The V-League 5th Season 2nd Conference is a tournament of the Shakey's V-League. The tournament began on October 19, 2008, at The Arena in the city of San Juan.
Joining are Ateneo de Manila University, Adamson University, De La Salle - College of Saint Benilde, De La Salle University, Far Eastern University, Lyceum of the Philippines University, San Sebastian College - Recoletos and University of Santo Tomas.
Former champion teams University of Santo Tomas and De La Salle University come back after being absent last conference.
After being thrice runner-up and a heartbreaking third-place finish last conference, San Sebastian College - Recoletos finally clinched the championship this season after finishing their former nemesis University of Santo Tomas in a sweep of the finals series.