There are two Philippine versions of Wheel of Fortune. The first was aired on ABC 5 aired from November 2001 to October 2002. It was hosted by Rustom Padilla and Victoria London. The second and more recent one was a program that aired on ABS-CBN, with Kris Aquino as main host, while Zara Aldana and Jasmine Fitzgerald alternated as puzzle assistants for each puzzle. Aquino's version started on January 14, 2008.

Advertisements for the ABS-CBN version started during that station's coverage of the Mayweather-Hatton fight on December 9, 2007. It involved a puzzle that would reveal the title of the show. Then advertisements urged viewers to join via text messaging.

Despite Wheel of Fortune having two Philippine versions, the ABS-CBN version, as well as several of its advertisements and press releases, do not seem to recognize Rustom Padilla's version.

The ABS-CBN version ended its run on July 25, 2008. Unlike the ABC version, which ended unceremoniously, this one formally had its last episode, with games competed by teams each composed of a child and an adult, with Aquino even making her Deal or No Deal gestures at the end. Aquino also hosts the Philippine version of the said program.