The 1985–86 Yugoslav Second League season was the 40th season of the Second Federal League (Serbo-Croatian: Druga savezna liga), the second level association football competition of SFR Yugoslavia, since its establishment in 1946.
A total of eighteen teams contested the league, including thirteen sides from the 1984–85 season, one club relegated from the 1984–85 Yugoslav First League and four sides promoted from the Inter-Republic Leagues played in the 1984–85 season.
The four clubs promoted to the second level were AIK Bačka Topola, Famos Hrasnica, Koper and Zadar.
A total of eighteen teams contested the league, including thirteen sides from the 1984–85 season, one club relegated from the 1984–85 Yugoslav First League and four sides promoted from the Inter-Republic Leagues played in the 1984–85 season.
The four clubs promoted to the second level were Lovćen, Radnički Kragujevac, Crvena Zvezda Gnjilane and Teteks.