The 1986 NCAA Division I-AA football season, part of college football in the United States organized by the National Collegiate Athletic Association at the Division I-AA level, began in August 1986, and concluded with the 1986 NCAA Division I-AA Football Championship Game on December 19, 1986, at the Tacoma Dome in Tacoma, Washington. The Georgia Southern Eagles won their second consecutive I-AA championship, defeating the Arkansas State Indians by a score of 48–21.