September 21, 1986 Autódromo do Estoril | Lap distance 4.350 km
| Pos | Points | No | Driver | Car | Engine | Tyres | Laps | Race Time | Delay | Qualifying | Fastest Lap | |||
| 1 | 9 | 5 | Nigel Mansell (GBR) | Williams FW11 | Honda RA166-E | Goodyear | 70 | 1:37'21.900 | 2 | 1'17.489 | 1 | 1'20.943 | (53) | |
| 2 | 6 | 1 | Alain Prost (FRA) | McLaren MP4-2C | TAG TTE PO1 | Goodyear | 70 | 1:37'40.672 | +18.772 | 3 | 1'17.710 | 2 | 1'21.092 | (61) |
| 3 | 4 | 6 | Nelson Piquet (BRA) | Williams FW11 | Honda RA166-E | Goodyear | 70 | 1:38'11.174 | +49.274 | 6 | 1'18.180 | 3 | 1'21.100 | (60) |
| 4 | 3 | 12 | Ayrton Senna (BRA) | Team Lotus 98T | Renault EF15C | Goodyear | 69 | 1:36'11.534 | +1 lap | 1 | 1'16.673 | 4 | 1'21.283 | (60) |
| 5 | 2 | 27 | Michele Alboreto (ITA) | Ferrari F1/86 | Ferrari 126C | Goodyear | 69 | 1:37'29.674 | +1 lap | 13 | 1'20.019 | 5 | 1'22.073 | (58) |
| 6 | 1 | 28 | Stefan Johansson (SWE) | Ferrari F1/86 | Ferrari 126C | Goodyear | 69 | 1:37'43.897 | +1 lap | 8 | 1'19.332 | 7 | 1'22.347 | (50) |
| 7 | 25 | René Arnoux (FRA) | Ligier JS27 | Renault EF15C | Pirelli | 69 | 1:38'47.506 | +1 lap | 10 | 1'19.657 | 15 | 1'24.356 | (53) | |
| 8 | 19 | Teo Fabi (ITA) | Benetton B186 | BMW M12/13 | Pirelli | 68 | 1:37'05.100 | +2 laps | 5 | 1'18.071 | 8 | 1'22.999 | (53) | |
| 9 | 11 | Johnny Dumfries (GBR) | Team Lotus 98T | Renault EF15B | Goodyear | 68 | 1:37'27.785 | +2 laps | 15 | 1'21.594 | 9 | 1'23.737 | (49) | |
| 10 | 18 | Thierry Boutsen (BEL) | Arrows A8 | BMW M12/13 | Goodyear | 67 | 1:37'36.542 | +3 laps | 21 | 1'22.068 | 14 | 1'24.350 | (52) | |
| 11 | 17 | Christian Danner (GER) | Arrows A8 | BMW M12/13 | Goodyear | 67 | 1:37'38.533 | +3 laps | 22 | 1'22.274 | 13 | 1'24.268 | (64) | |
| 12 | 14 | Jonathan Palmer (GBR) | Zakspeed 861 | Zakspeed 861 | Goodyear | 67 | 1:38'13.872 | +3 laps | 20 | 1'21.929 | 17 | 1'24.947 | (37) | |
| 13 | 22 | Allen Berg (CAN) | Osella FA1G | Alfa Romeo 890T | Pirelli | 63 | 1:38'23.563 | +7 laps | 27 | 1'26.861 | 27 | 1'30.477 | (34) | |
| Not classified | ||||||||||||||
| -- | 16 | Patrick Tambay (FRA) | Lola THL-2 | Ford F1 | Goodyear | 62 | 1:37'35.551 | 14 | 1'20.761 | 11 | 1'23.889 | (59) | ||
| -- | 24 | Alessandro Nannini (ITA) | Minardi M/85B | Motori Moderni 6VTC | Pirelli | 60 | 1:32'01.946 | 18 | 1'21.702 | 24 | 1'27.910 | (4) | ||
| Retirement | ||||||||||||||
| engine | 7 | Riccardo Patrese (ITA) | Brabham BT55 | BMW M12/13/1 | Pirelli | 62 | 1:29'57.432 | 9 | 1'19.637 | 12 | 1'24.243 | (36) | ||
| spun off | 20 | Gerhard Berger (AUT) | Benetton B186 | BMW M12/13 | Pirelli | 44 | 1:02'32.627 | 4 | 1'17.742 | 10 | 1'23.850 | (26) | ||
| spun off | 23 | Andrea de Cesaris (ITA) | Minardi M/86 | Motori Moderni 6VTC | Pirelli | 43 | 1:03'24.082 | 16 | 1'21.611 | 20 | 1'26.034 | (28) | ||
| electrical | 2 | Keke Rosberg (FIN) | McLaren MP4-2C | TAG TTE PO1 | Goodyear | 41 | 58'03.270 | 7 | 1'18.360 | 6 | 1'22.242 | (36) | ||
| electrical | 8 | Derek Warwick (GBR) | Brabham BT55 | BMW M12/13/1 | Pirelli | 41 | 59'44.793 | 12 | 1'19.882 | 18 | 1'25.113 | (18) | ||
| engine | 26 | Philippe Alliot (FRA) | Ligier JS27 | Renault EF15B | Pirelli | 39 | 56'35.903 | 11 | 1'19.769 | 16 | 1'24.516 | (38) | ||
| engine | 4 | Philippe Streiff (FRA) | Tyrrell 015 | Renault EF15B | Goodyear | 28 | 41'03.119 | 23 | 1'22.388 | 21 | 1'26.242 | (27) | ||
| engine | 3 | Martin Brundle (GBR) | Tyrrell 015 | Renault EF15B | Goodyear | 18 | 26'31.142 | 19 | 1'21.835 | 22 | 1'26.612 | (15) | ||
| spun off | 15 | Alan Jones (AUS) | Lola THL-2 | Ford F1 | Goodyear | 10 | 14'43.730 | 17 | 1'21.646 | 19 | 1'25.681 | (6) | ||
| transmission | 29 | Huub Rothengatter (NED) | Zakspeed 861 | Zakspeed 861 | Goodyear | 9 | 15'11.205 | 26 | 1'24.105 | 25 | 1'28.397 | (7) | ||
| engine | 21 | Piercarlo Ghinzani (ITA) | Osella FA1F | Alfa Romeo 890T | Pirelli | 8 | 18'57.792 | 24 | 1'23.566 | 26 | 1'30.016 | (3) | ||
| transmission | 31 | Ivan Capelli (ITA) | AGS JH21C | Motori Moderni 6VTC | Pirelli | 6 | 9'09.142 | 25 | 1'23.987 | 23 | 1'27.861 | (6) | ||
