The 1986–87 Iowa Hawkeyes men's basketball team represented the University of Iowa as members of the Big Ten Conference. The team was led by first-year head coach Tom Davis and played their home games at Carver-Hawkeye Arena. They finished the season 30–5 overall and 14–4 in Big Ten play to finish in third place. The Hawkeyes won their first 18 games and ascended to the #1 ranking in late January. The 30 overall wins and 14 conference wins remain single-season school records. Iowa received an at-large bid to the NCAA Tournament as #2 seed in the West Region. After defeating Santa Clara in the first round, UTEP in the second round, and Oklahoma in the Sweet Sixteen, they lost a heartbreaker to #1 UNLV in the Regional Final.