The 1987 Portuguese Grand Prix was a Formula One motor race held at Estoril on 20 September 1987. It was the twelfth race of the 1987 Formula One World Championship.

The race was won by Frenchman Alain Prost, driving a McLaren-TAG, after he started from third position. Austrian driver Gerhard Berger took pole position in his Ferrari and led for most of the race, until he spun with three laps remaining. Prost duly went through to take his 28th Grand Prix victory, surpassing Jackie Stewart's all-time record; he also achieved his 54th podium finish, equalling Niki Lauda's record. Berger finished second, some 20 seconds behind Prost, with Drivers' Championship leader, Brazilian Nelson Piquet, third in his Williams-Honda.

The race was marred by a multi-car collision on the opening lap. Piquet and Michele Alboreto collided at the start, with Derek Warwick, Satoru Nakajima, Martin Brundle, Christian Danner, Philippe Alliot, René Arnoux and Adrián Campos all involved in the ensuing accident. Only Danner was unable to restart as the Zakspeed team had only one usable car which went to Brundle.