The 1987 Stanley Cup Final was the championship series of the National Hockey League's (NHL) 1986–87 season, and the culmination of the 1987 Stanley Cup playoffs. It was contested between the Edmonton Oilers and the Philadelphia Flyers in a rematch of the 1985 Final. Despite blowing a 3–1 series lead, the Oilers defeated the Flyers in seven games – the first seven-game Final since 1971 – for their third Stanley Cup victory.

This was the sixth of nine consecutive Finals contested by a team from Western Canada, the fifth of eight consecutive Finals contested by a team from Alberta (the Oilers appeared in six, the Calgary Flames in two), and the fourth of five consecutive Finals to end with the Cup presentation on Alberta ice (the Oilers won four times, the Montreal Canadiens once). Game 7 of this series was played on May 31, which at the time was the latest finishing date for an NHL season. The record would be broken five years later when that series ended on June 1.

For the third straight year, the Edmonton Oilers and Philadelphia Flyers finished the regular season with the two best records in the NHL. (In 1984–85, the Flyers were first in NHL standings and the Oilers second; in both 1985–86 and 1986–87, the positions were reversed.) While the Oilers' success came from their vaunted offense, the Flyers relied on grit, defensive play, and solid goaltending from Vezina Trophy winner Ron Hextall.

The Oilers cruised into the Final with relative ease, losing only two games in the process. They beat the Los Angeles Kings in five games, swept the Winnipeg Jets, and then beat the Detroit Red Wings in five to win the Clarence S. Campbell Bowl for the fourth time in five years. The Flyers, meanwhile, had a much harder road. It took them six games to knock off the New York Rangers, went the full seven against the New York Islanders, and then beat Montreal, the reigning champion, in six to claim their second Prince of Wales Trophy in three years.

The Oilers and Flyers met in the Final for the second time in three years. This time, Edmonton was the regular-season champion with 50 wins and 106 points, and Philadelphia was second with 46 wins and 100 points.

This was a rematch of the 1985 Stanley Cup Final, where the Oilers beat the Flyers in five games. Unlike the 1985 Final, this series went to seven games. Edmonton took the first two games at home, then split in Philadelphia. However, the Flyers won the next two games, one in Edmonton and one back in Philadelphia by one goal, to force a deciding seventh game. Edmonton won game seven to earn its third Stanley Cup in four seasons.

During the Stanley Cup presentation, Oilers captain Wayne Gretzky would give the Cup to Steve Smith, who one year earlier scored on his own net a goal that led to their downfall against the Calgary Flames, their in-province rivals, in the Smythe Division Final. Ron Hextall would receive the Conn Smythe Trophy for his efforts.

For the first time in the Final, both starting goalies, Hextall and Grant Fuhr, wore the full fiberglass cage mask which is now required across almost all levels of competitive hockey. Fuhr wore the original face-hugging fiberglass mask in his three previous Final appearances before switching to the full cage in the 1985–86 season. Patrick Roy was the second goalie to wear the full cage in the Final when he backstopped the Montreal Canadiens to victory vs. the Calgary Flames the previous year; the first was Gilles Meloche of the Minnesota North Stars in 1981.