The 40 Greatest Players in Philippine Basketball Association History is a set of players chosen in 2000 and 2015 to commemorate the founding of the Philippine Basketball Association. The first set, known as the 25 Greatest Players in Philippine Basketball Association History was awarded when the league celebrated its 25th anniversary in, during its silver anniversary TV special held at the Araneta Coliseum on April 9, 2000. In 2015, 15 players were added to the list to commemorate the league's 40th anniversary. The awarding was held at the Resorts World Manila on April 8, 2015. The award was rechristened as FAB @ 40 (40th Greatest Players).

Criteria

The following criteria were used by a committee in selecting players for the first 25 players in the list:

Players

25 Greatest Players (2000)

40 Greatest Players (2015)

The fifteen selected players were added on top of the original 25 players.

Criticism

The additional 15 players that were added in 2015 caused criticism because some were still young and active (Williams - 33, Pingris - 34) and still at the peak of their career. Though the selection is valid, some from the 25 original greatest players questioned why some of the retired PBA legends were not included in the list like Nelson Asaytono, Abe King, Yoyoy Villamin, Olsen Racela, and Jeffrey Cariaso. Many have said that such players like Kerby Raymundo, Marlou Aquino, and Marc Pingris should have not been included on the list. There were also controversial picks such as Chito Loyzaga who played for popular teams like Ginebra San Miguel and were selected over some of the aforementioned players. This is despite the fact that Loyzaga was only a one time member of the Mythical Second Team and played a supporting role to stars such as Robert Jaworski during his tenure with the team. Even Loyzaga himself quoted that he was being pranked when he heard the news of his selection.

Grand Slam coaches

Before handing out the awards to the original 25 Greatest Players, the four head coaches that accomplished the elusive Grand Slam up to the 2000 season were also recognized.