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| I | Crvena Zvezda | - | Atlético | 0:2 (0:1) | ||
| V | Atlético | - | Crvena Zvezda | 1:1 (1:0) | ||
| I: 05.03.1986 | V: 19.03.1986 | Campeones: Atlético | ||||
| I | ASVS Dukla Praha | - | Benfica | 1:0 (1:0) | ||
| V | Benfica | - | ASVS Dukla Praha | 2:1 (2:0) | ||
| I: 05.03.1986 | V: 19.03.1986 | Campeones: ASVS Dukla Praha | ||||
| I | Dynamo Dresden | - | Bayer 05 Uerdingen | 2:0 (0:0) | ||
| V | Bayer 05 Uerdingen | - | Dynamo Dresden | 7:3 (1:3) | ||
| I: 05.03.1986 | V: 19.03.1986 | Campeones: Bayer 05 Uerdingen | ||||
| I | Rapid Wien | - | Dinamo Kiev | 1:4 (0:0) | ||
| V | Dinamo Kiev | - | Rapid Wien | 5:1 (4:1) | ||
| I: 05.03.1986 | V: 19.03.1986 | Campeones: Dinamo Kiev | ||||
