18th Sarasaviya Awards
The 18th Sarasaviya Awards festival, presented by the Associated Newspapers of Ceylon Limited, was held to honor the best films of 1988 Sinhala cinema on August 25, 1989, at the Bandaranaike Memorial International Conference Hall, Colombo 07, Sri Lanka. President Ranasinghe Premadasa was the chief guest at the awards night.
The film Siri Medura won the most awards with eight including Best Film.
Awards
| Category | Film |
| Popular films included in the festival | - |
| Popular films included in the festival | Nommara 17 |
| Popular films included in the festival | Mamai Raja |
| Popular films included in the festival | Kedapathaka Chaya |
| Popular films included in the festival | Sinasenna Raththaran |
| Popular films included in the festival | Siri Medura |
| Popular films included in the festival | Okkoma Rajawaru |
| Popular films included in the festival | Randenigala Sinhaya |