The 1987 Oceania Basketball Championship , the eighth Oceania Basketball Championship , took place between August 31 and September 4, 1987 in Timaru and Christchurch , New Zealand , which was the organizer for the fifth time. The winner was the national team of Australia , which won the title for the eighth time. In the final, New Zealand was clearly defeated. The French Polynesia took third place. With French Polynesia, a third team took part in the tournament for the first time.
Initially, the game was played in a group stage. Each team played against each other once, so that each team played exactly two games (a total of three games were played). There were two points for each win and one point for a defeat. In the event of a tie, the direct comparison decided . The two teams with the best points moved into the final and played for the tournament victory.