The PBA Season 48 draft was the 38th edition of the PBA draft. It was held at Market! Market! in Taguig on September 17, 2023. It was an event that allowed teams to take turns selecting amateur basketball players and other eligible players, including half-Filipino foreign players. The league determined the drafting order based on the performance of the member teams from the 2022–23 season, with the worst team, the Terrafirma Dyip, picking first. For the first time since 2010, the draft was held at Market! Market!.^[1]

The rules for the PBA draft were revised and adopted starting from Season 48. Among the changes were:^[2]

• Removal of the 30-year age limit for Filipino-Foreigners
• Standardized rules applicable for both local and Filipino-Foreigners
  • Players 22 years old and older are generally eligible
  • Players at least 19 years old are eligible if they have two years of college completed.
• Players must have studied and played in Philippine collegiate leagues prior to playing in professional overseas leagues.
  • Players must enter the draft on their third year of eligibility
  • Those who did on their fourth or fifth year of eligibility after playing in a professional league overseas, would have to undergo a special computer-generated lottery among the 12 teams.
  • The application of those who did in their sixth year of eligibility or beyond is subject to conditions and approval by the Board.

The draft order was determined based on the overall performance of the teams from the previous season. The Philippine Cup final ranking comprises 40% of the points, while the rankings of the Commissioner's and Governors' Cups are 30% each.^[3]