Toronto Raptors Locker Room Party Was Insane, CHUG! CHUG! CHUG!

The Toronto Raptors didn't just murder the Warriors -- they killed HUNDREDS of bottles of champagne in the locker room ... and the footage is insane!!

Check out Raptors players Norman Powell, Serge Ibaka, Pascal Siakam and more just blowing through bottles of bubble while taking turns holding the Larry O'Brien Trophy.

At one point, you can see what appears to be hundreds of empty bottles strewn all over the locker room floor ... it's like hundreds of dollars in recycling money if anyone turns those in!!

After they left the locker room and got on the team bus, the players turned all the way up to Meek Mill's championship hit, "Dreams and Nightmares" ... the same song the Philadelphia Eagles rocked too when they won the Super Bowl a few years ago.

At the hotel, the dancing continued ... only there, the champagne spraying stopped and the guys switched to sipping red wine.

Next up for the Raptors is the championship parade through Toronto which is set to go down on Monday.