| Competition: | Hong Kong First Division |
| Season: | 1987–88 |
| Winners: | South China |
| Relegated: | Po Chai Pills May Ching |
| Matches: | 108 |
| Total Goals: | 245 |
| Prevseason: | 1986–87 |
| Nextseason: | 1988–89 |
The 1987–88 Hong Kong First Division League season was the 77th since its establishment. Starting from this season, 3 points are awarded for a win in normal time. If a match ended in a draw after normal time, a penalty shootout would follow to determine the winner. The winner of the penalty shootout would be warded 2 points whereas the loser would receive 1 point.