The women's 1500 metres event at the 1986 World Junior Championships in Athletics was held in Athens, Greece, at Olympic Stadium on 19 and 20 July.
| Gold | Ana Padurean | |
| Silver | Selina Chirchir | |
| Bronze | Snežana Pajkić |
20 July
| Rank | Name | Nationality | Time | Notes | |||
|---|---|---|---|---|---|---|---|
| align=left | align=left | | 4:14.63 | ||||
| align=left | align=left | | 4:15.59 | ||||
| align=left | align=left | 4:16.03 | |||||
| 4 | align=left | align=left | 4:16.69 | ||||
| 5 | align=left | align=left |  | 4:21.01 | |||
| 6 | align=left | align=left |  | 4:21.02 | |||
| 7 | align=left | align=left | | 4:21.15 | |||
| 8 | align=left | align=left | | 4:22.78 | |||
| 9 | align=left | align=left |  | 4:23.83 | |||
| 10 | align=left | align=left | 4:26.37 | ||||
| 11 | align=left | align=left |  | 4:26.65 | |||
| 12 | align=left | align=left | | 4:27.18 | |||
| 13 | align=left | align=left | 4:28.05 | ||||
| 14 | align=left | align=left | 4:33.30 | ||||
| align=left | align=left |  | DNF |
19 July
| Rank | Name | Nationality | Time | Notes | |||
|---|---|---|---|---|---|---|---|
| 1 | align=left | align=left | 4:28.13 | Q | |||
| 2 | align=left | align=left | | 4:28.45 | Q | ||
| 3 | align=left | align=left | | 4:28.46 | Q | ||
| 4 | align=left | align=left | 4:28.67 | Q | |||
| 5 | align=left | align=left | | 4:28.91 | q | ||
| 6 | align=left | align=left | 4:29.15 | ||||
| 7 | align=left | align=left | | 4:33.74 | |||
| 8 | align=left | align=left |  | 4:36.18 | |||
| 9 | align=left | align=left | 4:41.93 | ||||
| 10 | align=left | align=left |  | 4:43.57 | |||
| 11 | align=left | align=left | 4:46.21 | ||||
| 12 | align=left | align=left |  | 4:57.86 |
| Rank | Name | Nationality | Time | Notes | |||
|---|---|---|---|---|---|---|---|
| 1 | align=left | align=left | | 4:28.76 | Q | ||
| 2 | align=left | align=left | | 4:29.27 | Q | ||
| 3 | align=left | align=left | | 4:29.86 | Q | ||
| 4 | align=left | align=left | | 4:30.74 | Q | ||
| 5 | align=left | align=left |  | 4:31.53 | |||
| 6 | align=left | align=left | 4:32.55 | ||||
| 7 | align=left | align=left | 4:34.39 | ||||
| 8 | align=left | align=left |  | 4:35.40 | |||
| 9 | align=left | align=left |  | 4:41.86 | |||
| 10 | align=left | align=left |  | 4:47.52 | |||
| 11 | align=left | align=left |  | 4:55.20 |
| Rank | Name | Nationality | Time | Notes | |||
|---|---|---|---|---|---|---|---|
| 1 | align=left | align=left | | 4:25.05 | Q | ||
| 2 | align=left | align=left | | 4:25.07 | Q | ||
| 3 | align=left | align=left | 4:25.30 | Q | |||
| 4 | align=left | align=left | | 4:25.30 | Q | ||
| 5 | align=left | align=left | 4:26.75 | q | |||
| 6 | align=left | align=left | 4:26.97 | q | |||
| 7 | align=left | align=left | 4:29.23 | ||||
| 8 | align=left | align=left | | 4:32.13 | |||
| 9 | align=left | align=left | 4:37.95 | ||||
| 10 | align=left | align=left |  | 4:38.39 | |||
| 11 | align=left | align=left | 4:50.43 | ||||
| 12 | align=left | align=left | 4:50.67 |
According to an unofficial count, 35 athletes from 28 countries participated in the event.