In the Philippines, New Year's Eve (Bisperas ng Bagong Taon) is a non-working holiday. Filipinos usually celebrate New Year's Eve in the company of family and close friends. Traditionally, most households host or attend a Media Noche (dinner party). Typical dishes include pancit and hamon. Lechon (roasted pig), is usually prepared and set as the centerpiece of the dinner table. Barbecued food is also an integral part of the menu.

Most Filipinos follow a set of traditions that are typically observed during New Year's Eve. Included among these traditions is the customary habit of wearing clothes with circular patterns, such as polka dots. This signifies the belief that circles attract money and fortune. Or they may wear other colorful clothing to show enthusiasm for the coming year. Throwing coins at the stroke of midnight is said to increase wealth in the upcoming year. Traditions also include the serving of circular shaped fruits, shaking of coins inside a metal can while walking around the house, and jumping up high, which is believed to cause an increase in physical height. People also make loud noises by blowing on cardboard or plastic horns, called torotot, banging on pots and pans, booming sound system, or by igniting firecrackers and fireworks at the stroke of midnight, in the belief that it scares away malevolent spirits and forces.

Urban areas usually host many New Year's Eve parties and countdown celebrations hosted by the private sector with the help of the local government. These parties usually display their own fireworks and are often very well attended. Some of the locations that mainly focused on the celebration are the Manila Bay at Roxas Boulevard or Luneta Park in Manila, the intersection of Ayala and Makati Avenues at the Makati Central Business District (CBD) in Makati City, Resorts World Manila and SM Mall of Asia in Pasay City, Quezon Memorial Circle in Diliman and Eastwood City in Libis, Quezon City, and Bonifacio Global City in Taguig City.