May 11, 1986 Circuit de Monaco | Lap distance 3.328 km
| Pos | Points | No | Driver | Car | Engine | Tyres | Laps | Race Time | Delay | Qualifying | Fastest Lap | |||
| 1 | 9 | 1 | Alain Prost (FRA) | McLaren MP4-2C | TAG TTE PO1 | Goodyear | 78 | 1:55'41.060 | 1 | 1'22.627 | 1 | 1'26.607 | (51) | |
| 2 | 6 | 2 | Keke Rosberg (FIN) | McLaren MP4-2C | TAG TTE PO1 | Goodyear | 78 | 1:56'06.082 | +25.022 | 9 | 1'24.701 | 3 | 1'26.971 | (56) |
| 3 | 4 | 12 | Ayrton Senna (BRA) | Team Lotus 98T | Renault EF15B | Goodyear | 78 | 1:56'34.706 | +53.646 | 3 | 1'23.175 | 2 | 1'26.843 | (68) |
| 4 | 3 | 5 | Nigel Mansell (GBR) | Williams FW11 | Honda RA166-E | Goodyear | 78 | 1:56'52.462 | +1'11.402 | 2 | 1'23.047 | 4 | 1'27.405 | (58) |
| 5 | 2 | 25 | René Arnoux (FRA) | Ligier JS27 | Renault EF15B | Pirelli | 77 | 1:56'16.265 | +1 lap | 12 | 1'25.538 | 9 | 1'27.988 | (26) |
| 6 | 1 | 26 | Jacques Laffite (FRA) | Ligier JS27 | Renault EF15B | Pirelli | 77 | 1:56'38.082 | +1 lap | 7 | 1'24.402 | 8 | 1'27.873 | (28) |
| 7 | 6 | Nelson Piquet (BRA) | Williams FW11 | Honda RA166-E | Goodyear | 77 | 1:56'48.299 | +1 lap | 11 | 1'25.287 | 7 | 1'27.797 | (68) | |
| 8 | 18 | Thierry Boutsen (BEL) | Arrows A8 | BMW M12/13 | Goodyear | 75 | 1:55'52.346 | +3 laps | 14 | 1'25.832 | 15 | 1'30.621 | (53) | |
| 9 | 17 | Marc Surer (SUI) | Arrows A8 | BMW M12/13 | Goodyear | 75 | 1:56'07.343 | +3 laps | 17 | 1'26.300 | 14 | 1'30.509 | (47) | |
| 10 | 28 | Stefan Johansson (SWE) | Ferrari F1/86 | Ferrari 126C | Goodyear | 75 | 1:57'14.292 | +3 laps | 15 | 1'25.907 | 13 | 1'29.305 | (68) | |
| 11 | 4 | Philippe Streiff (FRA) | Tyrrell 015 | Renault EF15B | Goodyear | 74 | 1:55'47.494 | +4 laps | 13 | 1'25.720 | 16 | 1'31.098 | (65) | |
| 12 | 14 | Jonathan Palmer (GBR) | Zakspeed 861 | Zakspeed 861 | Goodyear | 74 | 1:56'43.812 | +4 laps | 19 | 1'26.644 | 19 | 1'31.679 | (47) | |
| Retirement | ||||||||||||||
| accident | 3 | Martin Brundle (GBR) | Tyrrell 015 | Renault EF15B | Goodyear | 67 | 1:41'42.428 | 10 | 1'24.860 | 10 | 1'28.649 | (62) | ||
| accident | 16 | Patrick Tambay (FRA) | Lola THL-2 | Ford F1 | Goodyear | 67 | 1:41'43.609 | 8 | 1'24.686 | 6 | 1'27.769 | (62) | ||
| steering | 20 | Gerhard Berger (AUT) | Benetton B186 | BMW M12/13 | Pirelli | 42 | 1:03'38.867 | 5 | 1'23.960 | 12 | 1'28.944 | (25) | ||
| turbo | 27 | Michele Alboreto (ITA) | Ferrari F1/86 | Ferrari 126C | Goodyear | 38 | 57'08.275 | 4 | 1'23.904 | 11 | 1'28.776 | (25) | ||
| fuel pump | 7 | Riccardo Patrese (ITA) | Brabham BT55 | BMW M12/13/1 | Pirelli | 38 | 1:17'01.046 | 6 | 1'24.102 | 5 | 1'27.585 | (36) | ||
| engine | 8 | Elio de Angelis (ITA) | Brabham BT55 | BMW M12/13/1 | Pirelli | 31 | 1:11'28.453 | 20 | 1'27.191 | 17 | 1'31.236 | (13) | ||
| brakes | 19 | Teo Fabi (ITA) | Benetton B186 | BMW M12/13 | Pirelli | 17 | 34'58.407 | 16 | 1'25.926 | 18 | 1'31.647 | (5) | ||
| accident | 15 | Alan Jones (AUS) | Lola THL-2 | Ford F1 | Goodyear | 2 | 3'24.233 | 18 | 1'26.456 | 20 | 1'35.510 | (2) | ||
| Not qualified | ||||||||||||||
| -- | 21 | Piercarlo Ghinzani (ITA) | Osella FA1F | Alfa Romeo 890T | Pirelli | 1'27.288 | ||||||||
| -- | 11 | Johnny Dumfries (GBR) | Team Lotus 98T | Renault EF15B | Goodyear | 1'27.826 | ||||||||
| -- | 29 | Huub Rothengatter (NED) | Zakspeed 861 | Zakspeed 861 | Goodyear | 1'28.060 | ||||||||
| -- | 22 | Christian Danner (GER) | Osella FA1G | Alfa Romeo 890T | Pirelli | 1'28.132 | ||||||||
| -- | 23 | Andrea de Cesaris (ITA) | Minardi M/85B | Motori Moderni 6VTC | Pirelli | 1'28.962 | ||||||||
| -- | 24 | Alessandro Nannini (ITA) | Minardi M/85B | Motori Moderni 6VTC | Pirelli | 1'29.447 | ||||||||
