1986 (MCMLXXXVI) was a common year starting on Wednesday of the Gregorian calendar.
- March 8: "Chain Reaction" reaches No. 1 in the UK
- April 26: "Chain Reaction" reaches No. 1 in Australia
- September 6: Barry Gibb and Barbra Streisand perform "Guilty" and "What Kind Of Fool" at the One Voice concert in Malibu, California
- October 30: Bee Gees sign a contract with Warner Bros. Music