During the 2007–08 season, Spanoulis led his team, Panathinaikos, in both points scored (661) and assists (215), over 36 games played in the Greek Basket League 2007–08 season, and 20 games played in the EuroLeague 2007–08 season. He averaged 11.8 points per game and 3.8 assists per game for the season, in 56 games total. Spanoulis was the Greek Basket League assists leader. He was voted as a starter to the Greek League All-Star Game, and to the Greek Basket League's Best Five Team.