The 1986 Ibero-American Championships (Spanish: II Campeonato Iberoamericano de Atletismo) was an athletics competition which was held at the Estadio Pedro Marrero in Havana, Cuba from 27–28 September 1986. A total of 36 events, comprising 21 men's and 15 women's events, were contested by sixteen countries. It was the second edition of the Ibero-American Championships, and the first to be held in Latin America. The Chilean city of Valparaíso was initially chosen to host the event, but the competition was moved after organisation difficulties. High temperatures at the venue affected athletic performances, particularly in the longer distance events.