The 1986 FIA European Formula Three Cup was the second European Formula Three Cup race and the first to be held at the Autodromo Enzo e Dino Ferrari on October 26, 1986. The race was won by Italian Stefano Modena, driving for Euroteam outfit, who finished ahead of the previous years winner Alex Caffi and fellow Italian Nicola Larini.
Alex Caffi and Nicola Larini came behind Stefano Modena in the European Formula Three Cup race.