The 1987 Australian Grand Prix was a Formula One motor race held at Adelaide on 15 November 1987. It was the sixteenth and final race of the 1987 Formula One World Championship.

The race was won by Austrian driver Gerhard Berger, who started from pole position, achieved the fastest lap and led every lap in his Ferrari, earning him his only grand chelem in his career. The win would end up being the last Ferrari win during team founder Enzo Ferrari's life, who would die in August of the following year. Brazilian Ayrton Senna finished second in his Lotus-Honda but was subsequently disqualified, thus promoting Berger's Italian teammate Michele Alboreto to second and the Benetton-Ford of Belgian Thierry Boutsen to third.