UST won their last six games after suffering back-to-back losses in between the two rounds of the double round-robin eliminations, for a second-place finish with 10 wins against 4 losses. The De La Salle Green Archers had the same win–loss record but were ranked lower on an inferior -5 quotient.[2]
Two of their games went into overtime, with both resulting to wins over the FEU Tamaraws, 79–71 in the first round; and against the UE Red Warriors, 85–77 in the second round.[3][4]
The Tigers lost their Final Four match against La Salle, their recurrent playoff opponent since 1994. UST squandered their twice-to-beat advantage with a 73–82 loss, resulting to a knockout game, where they were eventually eliminated after a 72–74 overtime loss.[5]
Richard Melencio and Ryan Bernardo decided to turn professional after the 1997 season and signed with the Metropolitan Basketball Association's Pangasinan Presidents and Laguna Lakers teams respectively. Both players later applied for the PBA draft, with Bernardo getting picked in the fourth round in 2001 by the Louie Alas-led Mobiline Phone Pals, and Melencio landing the 32nd overall pick in 2002 with the Shell Turbo Chargers team.