In the 2007 Philippine Cup, Caguioa averaged 24.7 points per game in the 23 games he played. He also led the league in statistical points for the Best Player of the Conference Award. Caguioa piloted Ginebra to their seventh championship in franchise history by besting the San Miguel Beermen in a best-of-seven finals. During their series against Talk 'N Text in the semifinals, Caguioa scored 34, 31, 26, 35, and 31 points in the five games. Caguioa won the 2007 PBA Best Player of the Conference.