The 1985–86 NHL season was the 69th season of the National Hockey League. This season saw the league's Board of Governors introduce the Presidents' Trophy, which would go to the team with the best overall record in the NHL regular season. The Edmonton Oilers would be the first winners of this award.

The Montreal Canadiens defeated the Calgary Flames four games to one in the final series to win the Stanley Cup.

On June 13, 1985, the NHL board of governors voted 17–4 in favour of amending a penalty rule. Previously, coincidental minor penalties would result in 4-on-4 play. The amendment allowed teams to substitute another player to keep the play 5-on-5. It was seen by many as a shot at trying to slow down the high-flying Edmonton Oilers. Wayne Gretzky was quoted as saying, "I think the NHL is making a big mistake. I think the NHL should be more concerned with butt-ending, spearing, and three-hour hockey games than getting rid of 4-on-4 situations." It wasn't until 1992, with the Oiler dynasty (five cups in seven years) having ended, that the NHL reverted to the original 4-on-4 rules.

The Edmonton Oilers once again regained control of top spot in the NHL and were awarded with the Presidents' Trophy—the first time the trophy had been awarded for the best record—while last year's best team, the Philadelphia Flyers slipped to second. The Flyers continued their dominance of the Wales Conference despite the death of their Vezina-winning goaltender, Pelle Lindbergh, in a car accident on November 11. Edmonton's Wayne Gretzky won his seventh straight Hart Memorial Trophy and his sixth straight Art Ross Trophy. This season saw Gretzky score 52 goals, and set records of 163 assists and 215 points. This was the fourth time in five years that Gretzky reached the 200 point plateau; no other player has reached 200 point mark, although Mario Lemieux would garner 199 points in 76 games in 1988–89. Edmonton's defenceman Paul Coffey broke Bobby Orr's record of 46 goals for most goals in a season by a defenceman by scoring 48 times.

The 1986 playoffs saw three first place teams eliminated in the opening round and the fourth, Edmonton, bowed out in the second.

The Montreal Canadiens decided to go with a rookie goaltender by the name of Patrick Roy. This decision proved to be a good one just like when the Canadiens rode rookie goalie Ken Dryden to a Stanley Cup championship in 1971. In the Final, the Canadiens beat the Calgary Flames, who were also riding a rookie netminder, Mike Vernon. Patrick Roy won the Conn Smythe Trophy as the playoff MVP and had a sparkling 1.92 goals against average along with 15 wins.

The 1986 Stanley Cup playoffs are the last time to date (as of 2023^[update]) that all active Canadian teams have qualified in the same season. It is also the second time that all seven active teams at the time qualified, the first occurring three years earlier. Also, the Hartford Whalers won their only playoff series during their tenure in Hartford against the Quebec Nordiques.

This was the second and final season season that the Canadian national broadcast rights were split between the Molson-sponsored Hockey Night in Canada on CBC, and the Carling O'Keefe-sponsored telecasts on CTV. HNIC aired on Saturday nights, while CTV primarily televised Friday night games. CTV was also suppose to televise the All-Star Game, but due to a prior programming commitment, the game aired instead on the cable network TSN for the first time.^[3][4] CBC and CTV also split the Stanley Cup playoffs.^[5] After the season, CTV decided to pull the plug on the venture,^[6][7] citing its limited access to Canadian-based teams, which translated into poor ratings.^[8] Carling O'Keefe retained the rights for the next two seasons, and syndicated its playoff telecasts to a chain of local stations that would one day become the Global Television Network.

This was the first season of the league's three-year U.S. national broadcast rights deal with ESPN. The contract called for the network to air up to 33 regular season games each season as well as the All-Star Game and the playoffs.^[9][10]

• List of Stanley Cup champions
• 1985 NHL Entry Draft
• 1985–86 NHL transactions
• 38th National Hockey League All-Star Game
• National Hockey League All-Star Game
• NHL All-Rookie Team
• 1985 in sports
• 1986 in sports