The 1986–87 season was Sport Lisboa e Benfica's 83rd season in existence and the club's 53rd consecutive season in the top flight of Portuguese football, covering the period from 1 July 1986 to 30 June 1987. Benfica competed domestically in the Primeira Divisão, and the Supertaça Cândido de Oliveira, and participated in the Cup Winners' Cup after winning the Taça de Portugal in the previous season.