The 1986 New Zealand Grand Prix was a race held at the Pukekohe Park Raceway on 5 January 1986. It was the 32nd running of the New Zealand Grand Prix and served as the second round of the New Zealand Formula Mondial Series.
The race was won by American Ross Cheever for the second time in succession. The podium was completed by fellow American Ted Prappas and local driver, Paul Radisich.