The season started on 28 March 1986 with the game Sudobudivnyk Mykolaiv – Nyva Ternopil.
The 1986 Football Championship of Ukrainian SSR was won by FC Zorya Luhansk.
Qualified for the interzonal playoffs, the team from Luhansk Oblast managed to gain promotion by winning its group.
The "Ruby Cup" of Molod Ukrayiny newspaper (for the most scored goals) was received by SC Tavriya Simferopol.
The winner of championship tournament further participated in the Soviet Second League interzonal playoffs in an effort to gain promotion to the First League, while the worst team of consolation tournament relegated to amateurs.