With two new teams joined to play, and started in late September of 2006, the second season ended in the first week of 2007.

In their second season, SAMURAI lost only once in five games before play-offs, an one-point loss to M.I.B. The first-seeded team however lost just in their first play-off game against Trojans, which made them lost in the first game after group phase being the top team twice in a row.

With that one-point victory over SAMURAI, M.I.B. had a 3-2 record against the five teams of the league. By beating G.T. Explorers in a first round match-up, M.I.B. had a chance to revenge their group-phase loss to H.F.C., which was the first game of this second season and it was a close game which they lost by only a 5-point game. However, the re-match is a lopsided loss for these men in black.

In the last game of group phase this season, H.F.C. became the first SBL team to score over 50 points by beating Trojans 54-42 at Sheung Wan Sports Centre, and the victory made them the only team other than SAMURAI to have a 4-1 record and the second seed entering play-offs.

After both losing the first round in play-offs, SOUTHORN Tigers and G.T. Explorers, the two finalists in the first season, met for a consolation for the 5th place in this six-team league. Still, this game has become exciting by being the first ever SBA game which had scored more than a combined 100 points.

SAMURAI, same as the previous season, beat M.I.B. in the 3rd-place game, a 36-23 victory and was again a 2nd Runner-Up.

By upsetting SAMURAI and by routing M.I.B. respectively, Trojans and H.F.C. met each other in the ultimate game of the second Final of the Southorn Basketball League.

Behind eleven points from Jerry Lee and Edward Wong, Trojans overcame 19 from Tabo Chak and beat H.F.C., another new team of the season, 38-35 in the Final.

Before the Final games of the season were played, the first ever Three-Point Shootout was organized. Trojans Patrick Tse beat teammate Billy Ip and M.I.B. Leo Chow in the final round to become the first Three-Point King of the league. Patrick had yet to make an in-game three-point shot until 3 years later in 2010, during an April game against D.S.F. when he already had returned to Tigers.