The was Molde's 12th season in the top flight of Norwegian football. This season Molde competed in 1. divisjon (first tier) and the Norwegian Cup. In the league, Molde finished in 9th position, 13 points behind winners Lillestrøm. Molde participated in the 1986 Norwegian Cup. They reached the Third Round where they lost 0–2 away against Hødd and were eliminated from the competition.