| Season: | 1985–86 |
| League Result: | Winners |
| Cup1 Result: | Winners |
| Cup2 Result: | Round of 64 |
| Pattern La1: | _thinwhiteborder |
| Pattern B1: | _vneck |
| Pattern Ra1: | _thinwhiteborder |
| Leftarm1: | 109252 |
| Body1: | 109252 |
| Rightarm1: | 109252 |
| Shorts1: | fff |
| Socks1: | fff |
| Leftarm2: | fff |
| Body2: | fff |
| Rightarm2: | fff |
| Shorts2: | fff |
| Socks2: | fff |
| Nextseason: | 1986–87 |
In the 1985–86 season Panathinaikos played for 27th consecutive time in Greece's top division, the Alpha Ethniki. They also competed in the UEFA Cup and the Greek Cup.
See main article: 1985–86 Alpha Ethniki.
See main article: 1985–86 Greek Football Cup.
The 44th Greek Cup Final was played at the Athens Olympic Stadium "Spyridon Louis".
See main article: 1985–86 UEFA Cup.