The 1986 FIA Formula One World Championship was the 40th season of FIA Formula One motor racing. It featured the 1986 Formula One World Championship for Drivers and the 1986 Formula One World Championship for Manufacturers, both of which commenced on 23 March and ended on 26 October after sixteen races. The Drivers' Championship was won by Alain Prost, Prost was the first driver to win back-to-back Drivers' Championships since Jack Brabham in 1959 and 1960. Together with Prost, Nigel Mansell, Nelson Piquet and Ayrton Senna dominated throughout the season and formed what was dubbed as the "Gang of Four".

Formula One, commonly known as Formula 1 or F1, is the highest class of international racing for open-wheel single-seater formula racing cars sanctioned by the Fédération Internationale de l'Automobile (FIA). The FIA Formula One World Championship has been one of the world's premier forms of racing since its inaugural running in 1950. The word formula in the name refers to the set of rules all participants' cars must follow. A Formula One season consists of a series of races, known as Grands Prix. Grands Prix take place in multiple countries and continents on either purpose-built circuits or closed public roads.