The purpose of this study is to review the party politics and to clarify the relationship between party politics and democratic consolidation after the 1986 democratization in the Philippines. The ‘stability’ of party politics is an important factor to influence the development of democratic politics and democratic consolidation. In this study, ‘stability’ of party politics means durability and steadiness of party politics which can be evaluated by effective number of political parties, electoral volatility, and organization structure of political party, etc. In our analysing on the party politics after the 1986 democratization in the Philippines, we find that stability of party politics is very low level. The effective number of political parties was unstable, and the level of electoral volatility was very high. Furthermore, the organization structure of political party was not representative of the Philippine people, and then political parties of the Philippines could not be mass parties. Therefore, party politics had a reverse effect on the democratic consolidation process in the Philippines.