The 1986 Western Athletic Conference men's basketball tournament was held March 4–8 at the Arena-Auditorium at the University of Wyoming in Laramie, Wyoming. UTEP defeated top-seeded Wyoming in the championship game, 65–64, to clinch their second WAC men's tournament championship. The Miners, in turn, received an automatic bid to the 1986 NCAA tournament. Third-seeded Utah, who lost in the quarterfinal round, also earned an at-large bid.