The 1986 Irish Greyhound Derby took place during August and September with the final being held at Shelbourne Park in Dublin on 20 September 1986. The competition was raced over the slightly longer race distance of 550 yards for the first time. The winner Kyle Jack won £25,000 and was trained by John Field, owned by Michael Field and bred by Batt O'Keeffe. The competition was sponsored by Carrolls.