The 1986 Mexican Grand Prix was a Formula One motor race held at Mexico City on October 12, 1986.

The first Mexican Grand Prix since 1970 was held at the newly renamed Autódromo Hermanos Rodríguez, located in the Magdalena Mixhuca recreational sports park in the middle of Mexico City. The track had been slightly shortened and modified from its previous layout; although Mexico City was located on a geologically active surface; so the circuit was very bumpy- and the most fearsome and spectacular corner on the circuit, the banked 275 km/h, 180-degree Peraltada turn remained from before, but with more run-off area and less banking than before.

It was the first win for Gerhard Berger and the first win for the Benetton team. Benetton ran on Pirelli tyres, and their relative durability compared to competitors on Goodyear tyres played to the team's advantage. Berger won this race due to not having to make a pit stop for a fresh set of tyres. It would also prove to be the final win for the turbocharged BMW engine.