The 1986–87 European Cup was the 22nd edition of the European Cup, IIHF's premier European club ice hockey tournament. The season started on October 2, 1986, and finished on September 27, 1987.
The tournament was won by CSKA Moscow, who won the final group.
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
HC Steaua București  | 14:0, 6:2 | HK CSKA Sofia |
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
Stjernen  | 14:3, 9:4 | Durham Wasps | |||
GIJS Groningen  | 2:2, 3:6 | Dynamo Berlin | |||
| HC Steaua București | 2:2, 4:5 | HK Partizan | |||
Mont-Blanc  | 0:5*, 3:3 |  HC Merano |
Tappara, HC Lugano, 
EC KAC, 
TMH Polonia Bytom : bye
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
| Stjernen | 0:10, 0:13 | Tappara | |||
| 2:5, 1:1 | HC Lugano | ||||
| 2:5, 1:9 | TMH Polonia Bytom | ||||
| HC Merano | 9:11, 4:8 | EC KAC |
Färjestads BK, Kölner EC, TJ VSŽ Košice, CSKA Moscow : bye
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
| Tappara | 2:8, 5:7 | CSKA Moscow | |||
| HC Lugano | 4:2, 4:5 | Kölner EC | |||
| TMH Polonia Bytom | 1:4, 2:3 | TJ VSŽ Košice | |||
| EC KAC | 6:5, 4:6 | Färjestads BK |
(Lugano, Ticino, Switzerland)
| width=22% | Team #1 | width=11% | Score | width=22% | Team #2 |
|---|---|---|---|---|---|
| 4:4 | Färjestads BK | ||||
| 4:5 | TJ VSŽ Košice | ||||
| 9:0 | TJ VSŽ Košice | ||||
| 3:7 | Färjestads BK | ||||
| 2:10 | CSKA Moscow | ||||
| 5:4 | Färjestads BK |
| Rank | Team | Points | |
| 1 | CSKA Moscow | 5 | |
|---|---|---|---|
| 2 | TJ VSŽ Košice | 4 | |
| 3 | Färjestads BK | 3 | |
| 4 | HC Lugano | 0 |