The 1985–86 Edmonton Oilers season was the Oilers' seventh season in the NHL, and they were coming off back to back Stanley Cup Championships. Edmonton would win the Presidents Trophy, as they finished with 119 points, which was a league high and tied the franchise record which was set in the 1983–84 season. The Oilers won the Smythe Division for the 5th consecutive season, and were heavy favourites to win their third-straight Stanley Cup. It was also the fifth consecutive season in which they scored at least 400 goals. However, the Oilers were defeated by the Calgary Flames in the second round.