The 1985–86 Asian Club Championship was the fifth edition of the annual Asian club football competition hosted by the Asian Football Confederation, and was the first such tournament in 14 years. Several clubs played in the qualifying round in the fall of 1985, with the final tournament being held in Jeddah, Saudi Arabia, from 19 to 29 January 1986.
South Korean side Daewoo Royals won their first Asian Club Championship defeating Al-Ahli in the final.
Al-Ahli Jeddah and Al-Arabi qualified for the final tournament, but Al-Arabi later withdrew.
Central Asia (Coca-Cola Cup)
Played in Colombo, Sri Lanka. The tournament was called the Coca-Cola Cup due to sponsorship reasons. It was the qualifier for the 1985–86 Asian Club Championship for clubs of Central Asian countries.