The 1985–86 AHL season was the 50th season of the American Hockey League. Thirteen teams played 80 games each in the schedule. The Hershey Bears finished first overall in the regular season. The Adirondack Red Wings won their second Calder Cup championship.

Final standings

Note: GP = Games played; W = Wins; L = Losses; T = Ties; GF = Goals for; GA = Goals against; Pts = Points;

Scoring leaders

Note: GP = Games played; G = Goals; A = Assists; Pts = Points; PIM = Penalty minutes

Calder Cup playoffs

Trophy and award winners