The 1986 Daytona 500, the 28th running of the event, was held February 16 at Daytona International Speedway, in Daytona Beach, Florida. Defending race winner Bill Elliott won the pole for the second year in a row, and Geoffrey Bodine won the race.

This was the first Daytona 500 that did not have some type of Chrysler car in the field (Dodge or Plymouth) since the Mirada, Imperial, and Cordoba were aged out at the end of the 1985 season.

First Daytona 500 starts for Eddie Bierschwale and Larry Pearson. Only Daytona 500 starts for Tommy Ellis, Pancho Carter, and Kirk Bryant. Last Daytona 500 starts for Jody Ridley, Doug Heveron, and Buddy Arrington.