| Year: | 1986 |
| Team: | Eastern Illinois Panthers |
| Sport: | football |
| Conference: | Gateway Collegiate Athletic Conference |
| Short Conf: | GCAC |
| Record: | 11–2 |
| Conf Record: | 5–1 |
| Head Coach: | Al Molde |
| Hc Year: | 4th |
| Stadium: | O'Brien Stadium |
| Champion: | GCAC champion |
| Bowl: | NCAA Division I-AA Quarterfinal |
| Bowl Result: | L 22–24 vs. Eastern Kentucky |
The 1986 Eastern Illinois Panthers football team represented Eastern Illinois University as a member of the Gateway Collegiate Athletic Conference (GCAC) during the 1986 NCAA Division I-AA football season. Led by fourth-year head coach Al Molde, the Panthers played their home games at O'Brien Stadium in Charleston, Illinois. Eastern Illinois finished the season with an overall record of 11–2 and won the GCAC title with a mark of 5–1 in conference play. The team was invited to the NCAA Division I-AA Football Championship playoffs, where they beat Murray State in the first round before losing to Eastern Kentucky in the quarterfinals.