The U.P. Lantern Parade is a parade of large lantern-floats around the oval of the main campus of the University of the Philippines (U.P.), the Diliman campus. The first parade was held in 1922 but it was institutionalized as a university celebration in 1934 by then UP President Jorge Bocobo. This annual U.P. tradition and competition takes place on the late afternoon of the last day of classes before the Christmas break, just a few hours after the Oblation Run.

The UP lantern parade attracts crowds of people from all over Metro Manila. Each U.P. unit and college creates a lantern-float on a given theme and presents a brief program to accompany the presentation of the lantern before the judges and audience gathered at the administration hall. An Over-All Best Lantern Grand Prize is awarded, along with "Judges' Choice" and "Most Resourceful." Cash prizes are given to the winners.

Having for many years swept up all the prizes, since 1929 to 1989, the College of Fine Arts (CFA) no longer joins the University competition. Instead, groups of fine arts students try to outdo each other in creating lanterns on the theme assigned by the CFA. The parade of the fine arts follows the main lantern parade and promises to provide the most attractive and creative floats in the parade. In 2004, for example, the college floats and lanterns featured Filipino folklore and mythological creatures like the tikbalang, kapre, and nuno sa punso. In celebration of its centennial, their lanterns in 2007 paid tribute to National Artists for the Arts.

At the height of the Tuition Fee Increase issue in 2006, the UP Board of Regents held a meeting on the same day of the Lantern Parade. Although the Parade was officially postponed, the College of Fine Arts went on with their own parade around the Diliman campus--proof of the icon and tradition status of the Lantern Parade.

UP Lantern Parade 2012

December 14, 2012 – marked one of the grandest Christmas events in UP Diliman which is the annual Lantern Parade that showcase multihued lantern-floats and lights. This event has fastly become an attraction where it attracts thousands of people from all over Metro Manila just to witness and be part of this notable event.  

Tricia Aquino and Romsanne Ortiguerro, in the website www.interaksyon.com, describe how this year's Manggahan Festival proceeded. There are at least 36 groups participated in the event, and each exert their best efforts to show their uniqueness to interpret this year’s theme: “Dangal at kahusayan sa paglilingkod ng bayan (Honor and Excellence in the service of country.)”. Some of the amazing lanterns that are shown in the parade are – a spaceship with the Men in Black on guard; Ibong Adarna surrounded by the tale’s heroes; a local version of Transformers with a jeepney turning into a super robot.

Three winners were declared in this year’s successful event. First prize went to College of Mass Communication; 2nd prize was awarded to the College of Arts and Letters; and 3rd prize went to the School of Urban and Regional Planning.

There are around 2000 audience, among other things, the UP Pep Squad performs; the Center for Women’s Studies distributes condoms in support of the RH Bill; and Aurora farmers march for their rights to titled land.

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Truly there is a light at Diliman despite of the University is facing some of fraternity-related violence cases and other economic and political concerns.