Tony Knowles Democratic Tom Fink Republican The 1987 Anchorage mayoral election was held on October 12 and November 3, 1987, to elect the mayor of Anchorage, Alaska.

It saw election of Tom Fink.

Incumbent mayor Tony Knowles was term-limited.

Since at no candidate received 40% of the vote in the first round (which at least one candidate was required to obtain to avoid a runoff), a runoff was held between the top-two finishers of the first round.

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