The 1986 NCAA Division I Outdoor Track and Field Championships were contested June 4−7, 1986 at Carroll Stadium in Indianapolis, Indiana, in order to determine the individual and team national champions of men's and women's collegiate Division I outdoor track and field events in the United States. Southern Methodist University and Texas topped the men's and women's team standings, respectively; it was the Mustangs' second men's team title and the first for the Longhorn women.