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The 2008–09 Sta. Lucia Realtors season was the 16th season of the franchise in the Philippine Basketball Association (PBA). The team wasn't able to defend their Philippine Cup trophy after losing to Alaska Aces in six games.
In their first playoff appearance since joining the league in 2006, the Elasto Painters were overwhelmed in Game 1 by the defending champions, who played with the comebacking Ryan Reyes who just came from injury. Fracas involving Rain or Shine's Gabe Norwood and Solomon Mercado at the end of the first game caused Norwood to be suspended in Game 2, and Mercado on Game 3 if it happens. The short-handed Elasto Painters wound up short in Game 2 as they were eliminated.
In a rematch of the 2007-08 semifinals series, the Aces won two consecutive game to lead the series 2–0. However, the Realtors won Game 3 to cut the series lead. But Alaska, seeking to prevent what happened last year, won Game 4 to take a commanding 3–1 series lead. Sta. Lucia won Game 5 but they came out short in Game 6 with Willie Miller having an all-around performance to lead the Aces to a rematch of the 2007 PBA Fiesta Conference Finals against Talk 'N Text.