The 1986 Ibero-American Championships (Spanish: II Campeonato Iberoamericano de Atletismo) was an athletics competition which was held at the Estadio Pedro Marrero in Havana, Cuba from 27 to 28 September 1986.

The Chilean city of Valparaíso was initially chosen to host the event, but the competition was moved after organisation difficulties.

Seventeen-year-old Luis Bueno set a world youth record of 8.25 m to win the men's long jump.

Alfonso Abellán was the race winner that year while Manuel Vera and Radamés González were second and third respectively.

[5] *   Host nation (Cuba)Of the twenty-two founding members of the Asociación Iberoamericana de Atletismo, nineteen presented delegations for the second championships (one more than the first edition).