The 1985–86 FIBA European Cup Winners' Cup was the twentieth edition of FIBA's 2nd-tier level European-wide professional club basketball competition, contested between national domestic cup champions, running from 1 October 1985, to 18 March 1986.

It was contested by 22 teams, two more than in the previous edition.

[1] Defending champions FC Barcelona, defeated Scavolini Pesaro in the final, which was held in Caserta, to win its second trophy.

It was the third title in a row for a Spanish League team.

March 18, PalaMaggiò di Castel Morrone, Caserta