The 1986–87 Alpha Ethniki was the 51st season of the highest football league of Greece. The season began on 7 September 1986 and ended on 7 June 1987. Olympiacos won their 25th Greek title and their first one in four years. The championship was marked by the strike declared by 12 teams in the last three games of the championship. As a result, most of the teams did not come to the last matches of the championship and were punished by deducting 6 points. The only ones who came and were not punished were Olympiacos, Panathinaikos, OFI and Panionios, which took the first four places in the standings.
25th Greek title
|Cup Winners' Cup||OFI|
|Goals scored||490 (2.26 per match)|
|Top goalscorer||Nikos Anastopoulos|
The point system was: Win: 2 points - Draw: 1 point.
|Pos||Team||Pld||W||D||L||GF||GA||GD||Pts||Qualification or relegation|
|1||Olympiacos (C)||30||22||5||3||54||24||+30||49||Qualification for European Cup first round|
|2||Panathinaikos||30||15||9||6||46||30||+16||39||Qualification for UEFA Cup first round|
|3||OFI||30||17||4||9||44||27||+17||38||Qualification for Cup Winners' Cup first round|
|4||Panionios||30||11||11||8||36||22||+14||33||Qualification for UEFA Cup first round|
|14||Doxa Drama (R)||30||6||9||15||29||36||−7||15||Relegation to Beta Ethniki|
|15||Apollon Athens (R)||30||6||8||16||21||40||−19||14|
|16||PAS Giannina (R)||30||5||7||18||14||38||−24||11|
Rules for classification: 1st points; 2nd head-to-head points; 3rd head-to-head goal difference; 4th decision match.
Most of the teams went the last three match days on strike. Only Olympiacos, Panathinaikos, OFI, and Panionios did not. All other teams had -6 points because they did not show up. AEK Athens had also -3 points because of a case of fixing games in the previous season.
(C) Champion; (R) Relegated
- All the games between the 12 teams which went on strike were counted 0–0, with both teams become a loss counted. A game between one of Olympiacos, Panathinaikos, OFI, and Panionios against the teams on strike was awarded 2–0 to the team of the first group.