| Year: | 1896 |
| Other Titles: | Campeonato Sudamericano Sub-16 Peru 1986 |
| City: | Lima |
| Dates: | [1] |
| Num Teams: | 10 |
| Confederations: | 1 |
| Venues: | 1 |
| Cities: | 1 |
| Count: | 1 |
| Matches: | 26 |
| Goals: | 51 |
| Player: |  Marco Etcheverry[2] |
| Prevseason: | 1985 |
| Nextseason: | 1988 |
The 1986 South American Under-16 Football Championship (Spanish; Castilian: '''Campeonato Sudamericano Sub-16 Peru 1986''', Portuguese: '''Campeonato Sul-Americano Sub-16 Peru 1986''') was the 2nd edition of the South American Under-17 Football Championship, a football competition for the under-16 national teams in South America organized by CONMEBOL. It was held in Peru from 4 to 19 October 1986.
Bolivia were crowned champions, and together with Brazil and Ecuador, which were the top three teams of this tournament, qualified for the 1987 FIFA U-16 World Championship in Canada.
See also: 1986 South American Under-16 Football Championship squads.
All games were played in Lima at the Estadio Nacional.
| Estadio Nacional | |
| Capacity: 45,000 | |
The top two teams in each group advanced to the final stage.
When teams finished level of points, the final rankings were determined according to the same criteria as the first stage, taking into account only matches in the final stage.
The following three teams from CONMEBOL qualified for the 1987 FIFA U-16 World Championship.
| Team | Qualified on | Previous appearances in tournament1 | |
|---|---|---|---|
| (1985) | |||
| (1985) | |||