In the season 2007–08, Olympiacos was considered amongst the favourites to reach the Final Four of the EuroLeague. It is also considered the favourite along with Panathinaikos in the A1 Ethniki. In the Regular Season the team had the record of 22 wins and 4 defeats, having produced the second most offensive basketball in the Greek League. For the Quarter-finals of the Playoffs, Olympiacos swept AEK Athens in a best-of-three series and for the Semi-finals won Maroussi in a best-of-five series by 3-2. In the Finals of the Greek League Reds faced the eternal enemy Panathinaikos. Meanwhile, in Europe the team qualified for the third phase (quarter-finals) of the Euroleague, where it was eliminated by CSKA Moscow. Additionally, Olympiacos qualified to the Greek Cup Final, where they lost to the arch-rival Panathinaikos in a very impressive game, which was dramatic up to the last second.
See main article: article and A1 Ethniki 2007–08.
Last match
This is the outlook for the 2008 Α1 playoffs. Teams in bold advance to the next round.
| Quarter-finals | ||||||||
|---|---|---|---|---|---|---|---|---|
| width=90 | Game | width=90 | 1st Game | width=90 | 2nd Game | width=90 | 3rd Game | |
| width=90 | Arena | width=90 | Peace and Friendship Stadium, Athens | width=90 | Olympic Indoor Hall, Athens | width=90 | - | |
| width=90 | Date | width=90 | 3 May 2008 | width=90 | 5 May 2008 | width=90 | - | |
| width=90 | Report | width=90 | QF-Game1 | width=90 | QF-Game2 | width=90 | - |
| Semi-finals | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| width=90 | Game | width=90 | 1st Game | width=90 | 2nd Game | width=90 | 3rd Game | width=90 | 4th Game | width=90 | 5th Game | |
| width=90 | Arena | width=90 | Peace and Friendship Stadium, Athens | width=90 | Agios Thomas Indoor Hall, Athens | width=90 | Peace and Friendship Stadium, Athens | width=90 | Agios Thomas Indoor Hall, Athens | width=90 | Peace and Friendship Stadium, Athens | |
| width=90 | Date | width=90 | 10 May 2008 | width=90 | 13 May 2008 | width=90 | 15 May 2008 | width=90 | 18 May 2008 | width=90 | 21 May 2008 | |
| width=90 | Report | width=90 | SF-Game1 | width=90 | SF-Game2 | width=90 | SF-Game3 | width=90 | SF-Game4 | width=90 | SF-Game5 |
| Finals | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| width=90 | Game | width=90 | 1st Game | width=90 | 2nd Game | width=90 | 3rd Game | width=90 | 4th Game | width=90 | 5th Game | |
| width=90 | Arena | width=90 | Olympic Indoor Hall, Athens | width=90 | Peace and Friendship Stadium, Athens | width=90 | Olympic Indoor Hall, Athens | width=90 | Peace and Friendship Stadium, Athens | width=90 | Olympic Indoor Hall, Athens | |
| width=90 | Date | width=90 | 24 May 2008 | width=90 | 27 May 2008 | width=90 | 29 May 2008 | width=90 | 1 June 2008 | width=90 | 4 June 2008 | |
| width=90 | Report | width=90 | F-Game1 | width=90 | F-Game2 | width=90 | F-Game3 | width=90 | F-Game4 | width=90 | 21:00 LT |
See main article: article and Greek Basketball Cup.
See main article: article and Euroleague 2007–08 Regular Season Group A.
| width=15 | width=220 | Team | width=20 | Pld | width=20 | W | width=20 | L | width=20 | PF | width=20 | PA | width=30 | Diff | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. |  CSKA Moscow | 14 | 12 | 2 | 1123 | 942 | +181 | ||||||||
| 2. |  Montepaschi Siena | 14 | 10 | 4 | 1098 | 974 | +124 | ||||||||
| 3. |  TAU Cerámica | 14 | 9 | 5 | 1170 | 1051 | +119 | ||||||||
| 4. |  Žalgiris Kaunas | 14 | 8 | 6 | 1110 | 1126 | -16 | ||||||||
| 5. |  Olympiacos | 14 | 7 | 7 | 1185 | 1099 | +86 | ||||||||
| 6. |  Olimpija Ljubljana | 14 | 4 | 10 | 1030 | 1147 | -117 | ||||||||
| 7. |  Prokom Trefl Sopot | 14 | 4 | 10 | 973 | 1143 | -170 | ||||||||
| 8. | VidiVici Bologna | 14 | 2 | 12 | 1008 | 1215 | -207 |
| Qualified to Top 16 | ||
| Eliminated |
See main article: article and Euroleague 2007–08 Top 16 Group F.
| width=15 | width=220 | Team | width=20 | Pld | width=20 | W | width=20 | L | width=20 | PF | width=20 | PA | width=30 | Diff | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. |  Maccabi Tel Aviv | 6 | 4 | 2 | 516 | 496 | +20 | ||||||||
| 2. | Olympiacos | 6 | 4 | 2 | 443 | 436 | +7 | ||||||||
| 3. | Real Madrid | 6 | 3 | 3 | 489 | 493 | -4 | ||||||||
| 4. | Žalgiris Kaunas | 6 | 1 | 5 | 457 | 480 | -23 |
| Qualified to Quarter-finals | ||
| Eliminated |
See main article: article and Euroleague 2007–08 quarterfinals.
| width=145 | Teams | width=60 | Agg. | width=80 | 1st Game | width=80 | 2nd Game | width=80 | 3rd Game |
|---|---|---|---|---|---|---|---|---|---|
| width=145 | CSKA Moscow | width=60 | 2 | width=80 | 74 | width=80 | 83 | width=80 | 81 |
| width=145 | Olympiacos | width=60 | 1 | width=80 | 76 | width=80 | 73 | width=80 | 56 |
| Arena | width=80 | CSKA Universal Sports Hall, Moscow | width=80 | Peace and Friendship Stadium, Athens | width=80 | CSKA Universal Sports Hall, Moscow |
| Qualified to Final Four 2008 | ||
| Eliminated |
Last match