| Tourney Name: | Air Canada Cup |
| Year: | 1986 |
| Dates: | April 15–19, 1986 |
| Num Teams: | 6 |
| Venues: | Moncton Coliseum in Moncton, NB |
| Type: | other |
| Winners: | Notre Dame Hounds |
| Second: | Toronto Redwings |
| Third: | Gouverneurs de Ste-Foy |
| Mvp: | Brent Bobyck |
| Scoring Leader: | Michel Picard |
| Prevseason: | 1985 |
| Nextseason: | 1987 |
The 1986 Air Canada Cup was Canada's eighth annual national midget 'AAA' hockey championship, which was played April 15–19, 1986 at the Moncton Coliseum in Moncton, New Brunswick. The Notre Dame Hounds from Wilcox, Saskatchewan won their second national title, defeating the Toronto Redwings in the gold medal game. The Gouverneurs de Ste-Foy won the bronze medal. Future National Hockey League players competing in this tournament were Rod Brind'Amour, Scott Pellerin, Frédéric Chabot, Michel Picard, Yves Racine, and most notably, future Hall of Famer Joe Sakic, who was a member of the Burnaby Hawks.[1]
| width=20 | Result | Team | width=80 | Region | City |
|---|---|---|---|---|---|
| West | Wilcox, Saskatchewan | ||||
| Toronto Redwings | Central | Toronto | |||
| Gouverneurs de Ste-Foy | Quebec | Ste-Foy, Quebec | |||
| 4 | St. John's Avalon | Atlantic | St. John's, Newfoundland and Labrador | ||
| 5 | Moncton Flyers | Host | Moncton, New Brunswick | ||
| 6 | Burnaby Hawks | Pacific | Burnaby, BC |