The highway is contained wholly in Payne and Noble Counties.

SH-86 begins at SH-51 in western Payne County, approximately 3+1⁄2 miles (5.6 km) east of Interstate 35.

From this intersection, SH-86 heads north, crossing Stillwater Creek, just west of where it expands to form Lake Carl Blackwell, around two miles (3.2 km) north of SH-51.

[1] In Noble County, the highway mostly follows a due north course, except for a slight curve approximately two miles (3.2 km) south of Perry.

Originally, the driving surface consisted of untreated gravel.