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The 1986–87 Yugoslav Cup was the 39th season of the top football knockout competition in SFR Yugoslavia, the Yugoslav Cup (Serbo-Croatian: Kup Jugoslavije), also known as the "Marshal Tito Cup" (Kup Maršala Tita), since its establishment in 1946. Hajduk Split beat Rijeka in the final.

First round

In the following tables winning teams are marked in bold; teams from outside top level are marked in italic script.

Tie no	Home team	Score	Away team
1	Belišće	1–2	Sutjeska Nikšić
2	Budućnost Banovići	0–0 (3–2 p)	Dinamo Zagreb
3	Crvena Zastava Kragujevac	1–1 (4–2 p)	Sarajevo
4	Karlovac	1–0	Prishtina
5	Maribor	3–0	Vardar
6	Neretva	0–1	Budućnost Titograd
7	OFK Kikinda	0–1	Velež
8	OFK Prijedor	2–3	Sloboda Tuzla
9	Osijek	7–0	Pobeda Prilep
10	Radnički Kragujevac	3–2	Partizan
11	Red Star	1–1 (11–10 p)	OFK Belgrade
12	Rijeka	2–0	Vlaznimi Đakovica
13	Spartak Subotica	1–1 (3–1 p)	Dinamo Vinkovci
14	Tekstilac Bijelo Polje	0–7	Hajduk Split
15	Vojvodina	3–0	Čelik Zenica
16	Željezničar Sarajevo	2–2 (5–3 p)	Radnički Niš

Tie no	Team 1	Agg.	Team 2	1st leg	2nd leg
1	Budućnost Titograd	4–3	Velež	2–3	2–0
2	Hajduk Split	5–3	Budućnost Banovići	4–1	1–2
3	Maribor	1–5	Željezničar Sarajevo	0–0	1–5
4	Radnički Kragujevac	4–1	Karlovac	3–0	1–1
5	Red Star	2–0	Sloboda Tuzla	1–0	1–0
6	Rijeka	6–1	Crvena Zastava	5–0	1–1
7	Spartak Subotica	3–2	Sutjeska Nikšić	2–0	1–2
8	Vojvodina	2–4	Osijek	1–2	1–2

Tie no	Team 1	Agg.	Team 2	1st leg	2nd leg
1	Budućnost Titograd	4–1	Radnički Kragujevac	4–0	0–1
2	Hajduk Split	5–3	Spartak Subotica	3–2	2–1
3	Red Star	4–0	Osijek	1–0	3–0
4	Željezničar Sarajevo	0–0 (2–4 p)	Rijeka	0–0	0–0

Tie no	Team 1	Agg.	Team 2	1st leg	2nd leg
1	Hajduk Split	2–2 (5–4 p)	Red Star	1–2	1–0
2	Rijeka	3–2	Budućnost Titograd	2–1	1–1

9 May 1987

Hajduk Split	1–1 (a.e.t.)	Rijeka
Asanović 43' (pen)		Radmanović 85'
Penalties
Asanović Čelić Andrijašević Tipurić Setinov Dražić Bursać Deverić Jarni Adamović Varvodić	9–8	Mladenović Radmanović Valenčić Janković Škerjanc Sredojević Ravnić Jelavić Kotur Rubčić Paliska

Attendance: 30,000

Referee: Zoran Petrović (Belgrade)

Hajduk Split

Rijeka

Match rules