The 1986 Copa de la Liga was the fourth and last edition of Copa de la Liga. The competition started on May 1, 1986, and concluded on June 14, 1986. Due to time constraints, saturation and club pressure, the Copa de la Liga only lasted four years since 1982, being cancelled in 1986.
The Copa de la Liga was played by 18 teams of 1985-86 La Liga and 4 winners of 1985 Copa de la Liga of Segunda División, Segunda División B and Tercera División. All rounds are played over two legs. The team that has the higher aggregate score over the two legs progresses to the next round.
First leg: 1 and 4 May 1986. Second leg: 8 and 9 May 1986.
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
|---|---|---|---|---|
| CA Osasuna | 4–5 | Real Betis | 2–2 | 2–3 |
| Cádiz CF | 0–1 | Sporting Gijon | 0–1 | 0–0 |
| Real Zaragoza | 4–1 | Hércules CF | 2–1 | 2–0 |
| UB Conquense | 3–5 | Valencia CF | 2–2 | 1–3 |
| Celta de Vigo | 3–4 | RCD Español | 3–2 | 0–2 |
| Real Sociedad | 4–3 | Athletic Bilbao | 2–1 | 2–2 |
| Sestao Sport Club | 3–2 | UD Las Palmas | 2–0 | 1–2 |
| Real Oviedo | (p) 3–3 | Racing Santander | 3–0 | 0–3 |
| Real Valladolid | 8–5 | Albacete Balompié | 5–1 | 3–4 |
First leg: 11 and 14 May 1986. Second leg: 18 and 21 May 1986.
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
|---|---|---|---|---|
| FC Barcelona | 6–2 | Real Madrid | 2–2 | 4–0 |
| Valencia CF | 6–3 | RCD Español | 5–2 | 1–1 |
| Real Oviedo | 2–5 | Real Sociedad | 2–1 | 0–4 |
| Atlético Madrid | 4–3 | Real Valladolid | 3–3 | 1–0 |
| Sevilla CF | 0–1 | Sestao Sport Club | 0–0 | 0–1 |
First leg: 24 and 25 May 1986. Second leg: 29 May 1986.
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
|---|---|---|---|---|
| FC Barcelona | 3–2 | Sporting de Gijón | 1–0 | 2–2 |
| Real Sociedad | 2–3 | Real Zaragoza | 1–0 | 1–3 |
| Valencia CF | 2–4 | Real Betis | 1–2 | 1–2 |
| Sestao Sport Club | 3–4 | Atlético Madrid | 3–2 | 0–2 |
First leg: 4 June 1986. Second leg: 8 June 1986.
| Team 1 | Agg. | Team 2 | 1st leg | 2nd leg |
|---|---|---|---|---|
| Real Zaragoza | 1–4 | Real Betis | 1–2 | 0–2 |
| Atlético Madrid | 1–2 | FC Barcelona | 0–1 | 1–1 |
| Real Betis | 1–0 | FC Barcelona |
|---|---|---|
Calderón  16' |
         Real Betis
|
     Barcelona
|
| FC Barcelona | 2–0 | Real Betis |
|---|---|---|
| Amarilla 9' Alexanko 40' (pen.) |
|
Barcelona
|
Real Betis
|
| Copa de la Liga 1986 Winners |
|---|
| FC Barcelona 2nd title |
