NCAA Season 62 basketball tournaments
The 1986 NCAA Basketball Tournament was the 62nd season in the Philippine National Collegiate Athletic Association (NCAA). For the fourth time in five years, the Letran Knights have crowned themselves basketball champions in the Seniors division. The Staglets of San Sebastian College beat comebacking San Beda Red Cubs, 2–1, in their own title series for the Junior division championship. Seniors' tournament. Elimination round. Format: Second round team standings. Taking the first round pennant was San Sebastian, losing only to Jose Rizal College, 92–93. The Letran Knights dropped two games in the first round to Mapua , 82–84, and San Sebastian, 75–79, and figured in a three-way tie for second place with Mapua Cardinals and Perpetual Help College. Sophomore quintet Perpetual Help Altas could have sweep the second round if not for the loss to San Sebastian Stags in their last outing. Letran managed to force a tie for first place with the Atlas and a playoff ensued with the Knights winning comfortably, 100–79, to arrange a championship setto with defending champions San Sebastian for the third time in five years. Letran showed up with only 10 players. Their 11th man Salvador Ramos was disqualified from  playing right from the start of the league after it was found out that he had already graduated. Finals. Game 3. Letran dictated the tempo early, leading by as many as 13 points in one stage, 46–33. The Knights survived the Stags' spirited rally in the last two minutes to win.