The 1986 VFL draft was the third formal draft to provide recruitment opportunities to clubs participating in Australian rules football's elite Victorian Football League. Held on 26 November 1986 after the end of the 1986 VFL season, it consisted only of the national draft itself, without a subsequent rookie or preseason draft. It was the first draft to be held since two initial drafts in 1981 and 1982, and as drafts have been held every year since, it is considered to be the first of the modern drafts.