DREAM.3 Light Weight Grandprix 2008 2nd Round was promoted by Fighting and Entertainment Group’s mixed martial arts promotion DREAM.
The event hosted the second round of the promotion’s (70 kg/154 lbs) Lightweight tournament. The evening’s Main Event featered Caol Uno and Mitsuhiro Ishida as well as the last fight of the first round of the DREAM middleweight tournament, Katsuyori Shibata vs. Jason “Mayhem” Miller. The event was broadcast live in Japan on SkyPerfect Pay-Per-View, and live in the United States on HDNet Fights. The Lightweight Champion will be crowned at DREAM.5.
| Match | Winner | Loser | Method | Round | Time |
| 1 | Takeshi Yamazaki | Shoji Maruyama | Decision (Unanimous) | 2 | 5:00 |
| 2 | Jason Miller | Katsuyori Shibata | TKO (Punches) | 1 | 6:57 |
| 3 | Melvin Manhoef | Dae Won Kim | TKO (Knees and Punches) | 1 | 4:08 |
| 4 | Daisuke Nakamura | Bu Kyung Jung | KO (Punch) | 2 | |
| 5 | Nick Diaz | Katsuya Inoue | TKO (Towel, Punches) | 1 | 6:45 |
| 6 | Tatsuya Kawajiri | Luiz Firmino | Decision (Unanimous) | 2 | 5:00 |
| 7 | Eddie Alvarez | Joachim Hansen | Decision (Unanimous) | 2 | 5:00 |
| 8 | Caol Uno | Mitsuhiro Ishida | Submission (Rear Naked Choke) | 2 |