The 1986 Dunhill Cup was the second Dunhill Cup. It was a team tournament featuring 16 countries, each represented by three players. The Cup was played 25–28 September at the Old Course at St Andrews in Scotland. The sponsor was the Alfred Dunhill company. The Australian team of Rodger Davis, David Graham, and Greg Norman beat the Japanese team of Tsuneyuki Nakajima, Naomichi Ozaki, and Tateo Ozaki in the final. It was the second win for the Australian team.