The 1986–87 Alpha Ethniki was the 51st season of the highest football league of Greece.
The season began on 7 September 1986 and ended on 7 June 1987.
Olympiacos won their 25th Greek title and their first one in four years.
As a result, most of the teams did not come to the last matches of the championship and were punished by deducting 6 points.
The only ones who came and were not punished were Olympiacos, Panathinaikos, OFI and Panionios, which took the first four places in the standings.