The Philippines ended the game with just three players left on court after nine of their side were ejected.
Four Australia players were also ejected from the game, which their side went on to win 89-53 in Manila.
The International Basketball Federation (Fiba) has opened disciplinary proceedings against both sides.
The fight broke out in the third quarter of the game at the 55,000-capacity Philippine Arena.
"Basketball Australia deeply regrets the incident in tonight's match between the Boomers and the Philippines in Manila. We are extremely disappointed with what happened and our role in it," Basketball Australia chief executive Anthony Moore said.
"This is not the spirit in which sport should be played and certainly not in the spirit in which we aim to play basketball.
"We apologise to our fans and will await the penalties to be handed down."
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