The 1986 Lehigh Engineers football team was an American football team that represented Lehigh University during the 1986 NCAA Division I-AA football season. In the first year of play for the Colonial League, Lehigh tied for second place.

In their first year under head coach Hank Small, the Engineers compiled a 5–6 record. Mike "The Tambourine Man" Kosko and Joe Uliana were the team captains and received All-American honors. This was also Senior OLB Perry Smith's final year where he capped his career by sacking Delaware Quarterback and future NFL MVP Rich Gannon 2 times albeit in a loss after beating Delaware in the previous 3 years.

Lehigh's 2–2 conference record tied for second in the five-team Colonial League standings. Against all opponents, the Engineers were outscored 300 to 258.

Lehigh played its home games at Taylor Stadium on the university's main campus in Bethlehem, Pennsylvania.

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