The 1987 Pepsi Firecracker 400 was the 15th stock car race of the 1987 NASCAR Winston Cup Series season and the 29th iteration of the event.

The race was held on Saturday, July 4, 1987, before an audience of 85,000 in Daytona Beach, Florida at Daytona International Speedway, a 2.5 miles (4.0 km) permanent triangular-shaped superspeedway.

In what is considered to be one of the most confusing finishes in NASCAR history, Stavola Brothers Racing's Bobby Allison managed to pass 12 cars in the span of five laps heading into the final lap of the race.

The standard track at Daytona International Speedway is a four-turn superspeedway that is 2.5 miles (4.0 km) long.

Davey Allison, driving for Ranier-Lundy Racing, managed to win the pole, setting a time of 45.435 and an average speed of 198.085 miles per hour (318.787 km/h) in the first round.