The 1985–86 European Cup was the 21st edition of the European Cup, IIHF's premier European club ice hockey tournament. The season started on October 10, 1985, and finished on August 30, 1986.
The tournament was won by CSKA Moscow, who won the final group.
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
Deko Builders Amsterdam  | 10:1, 8:1 | Slavia Sofia | |||
| 6:7, 3:8 | HK Jesenice |
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
| Dynamo Berlin | 11:1, 8:1 |  Újpesti Dózsa | |||
SC Saint Gervais  | 5:3, 3:3 |  GKS Zagłębie Sosnowiec | |||
| 5:8, 2:9 | HC Davos | ||||
CHH Txuri Urdin  | 1:5, 0:18 |  HC Bolzano | |||
| Deko Builders Amsterdam | 2:4, 5:9 |  EC KAC |
Ilves, 
Södertälje SK, SB Rosenheim, Dukla Jihlava, CSKA Moscow : bye
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
| HC Bolzano | 1:11, 2:11 | CSKA Moscow | |||
| EC KAC | 1:4, 2:10 | Dukla Jihlava | |||
| 5:9, 5:9 | Södertälje SK | ||||
| 1:3, 4:3 | SB Rosenheim | ||||
| SC Saint Gervais | w/o | Ilves |
(Rosenheim, Bavaria, West Germany)
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
| 1:3 | Södertälje SK | ||||
| 10:2 | SC Saint Gervais | ||||
| 10:2 | Södertälje SK | ||||
| 9:4 | SC Saint Gervais | ||||
| 19:1 | SC Saint Gervais | ||||
| 6:4 | Dukla Jihlava | ||||
| 9:3 | Dukla Jihlava | ||||
| Södertälje SK | 11:0 | SC Saint Gervais | |||
| 0:8 | |||||
| Södertälje SK | 5:4 | Dukla Jihlava |
| Rank | Team | Points | |
| 1 | CSKA Moscow | 8 | |
|---|---|---|---|
| 2 | Södertälje SK | 6 | |
| 3 | SB Rosenheim | 4 | |
| 4 | Dukla Jihlava | 2 | |
| 5 | SC Saint Gervais | 0 |