The 1985–86 SM-liiga season was the 11th season of the SM-liiga, the top level of ice hockey in Finland. 10 teams participated in the league, and Tappara Tampere won the championship.

Standings

Club GP W T L GF GA Pts
1.Tappara Tampere36216917912548
2.HIFK Helsinki362311217813447
3.TPS Turku361851315313941
4.Kärpät Oulu361931413813941
5.JyP HT Jyväskylä361911614313539
6.Ilves Tampere361741515914338
7Ässät Pori361731618616837
8.Lukko Rauma361512016019231
9.Jokerit Helsinki361022413118122
10.SaiPa Lappeenranta3672279816916

Playoffs

Semifinals

3rd place

Final

Relegation

Club GP W T L GF GA Pts
1.TuTo Turku640226158
2.Jokerit Helsinki640234308
3.KooKoo Kouvola620420254
4.HPK620424344
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