The 1985-86 Segunda División season saw 20 teams participate in the second flight Spanish league. Real Murcia, CE Sabadell FC and RCD Mallorca were promoted to Primera División. Albacete Bp., Deportivo Aragón, CD Tenerife and Atlético Madrileño were relegated to Segunda División B.
| Key to colors in league table: |
| Promoted to Primera División |
| Relegated to Segunda División B |
| Position | Club | Played | Points | Wins | Draws | Losses | Goals for | Goals against | Goal Difference |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Real Murcia | 38 | 52+14 | 22 | 8 | 8 | 66 | 30 | +36 |
| 2 | CE Sabadell FC | 38 | 46+8 | 15 | 16 | 7 | 49 | 30 | +19 |
| 3 | RCD Mallorca | 38 | 46+8 | 18 | 10 | 10 | 54 | 37 | +17 |
| 4 | Elche CF | 38 | 45+7 | 19 | 7 | 12 | 44 | 36 | +8 |
| 5 | CD Castellón | 38 | 45+7 | 18 | 9 | 11 | 61 | 42 | +19 |
| 6 | Deportivo de La Coruña | 38 | 45+7 | 17 | 11 | 10 | 52 | 38 | +14 |
| 7 | Bilbao Athletic | 38 | 44+6 | 18 | 8 | 12 | 53 | 51 | +2 |
| 8 | Real Oviedo | 38 | 44+6 | 17 | 10 | 11 | 45 | 36 | +9 |
| 9 | Recreativo de Huelva | 38 | 42+4 | 17 | 8 | 13 | 63 | 55 | +8 |
| 10 | Sestao | 38 | 39+1 | 16 | 7 | 15 | 49 | 45 | +4 |
| 11 | CD Málaga | 38 | 37-1 | 13 | 11 | 14 | 46 | 47 | -1 |
| 12 | Castilla CF | 38 | 34-4 | 14 | 6 | 18 | 45 | 61 | -16 |
| 13 | Barcelona Atlètic | 38 | 34-4 | 13 | 8 | 17 | 41 | 48 | -7 |
| 14 | Cartagena FC | 38 | 34-4 | 10 | 14 | 14 | 37 | 41 | -4 |
| 15 | Rayo Vallecano | 38 | 33-5 | 12 | 9 | 17 | 46 | 54 | -8 |
| 16 | CD Logroñés | 38 | 33-5 | 10 | 13 | 15 | 46 | 44 | +2 |
| 17 | Albacete Bp. | 38 | 31-7 | 12 | 7 | 19 | 35 | 62 | -27 |
| 18 | Deportivo Aragón | 38 | 28-10 | 9 | 10 | 19 | 35 | 55 | -20 |
| 19 | CD Tenerife | 38 | 26-12 | 8 | 10 | 20 | 43 | 59 | -16 |
| 20 | Atlético Madrileño | 38 | 22-16 | 8 | 6 | 24 | 27 | 66 | -39 |
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