The 1986 Japanese Formula Two Championship was contested over 8 rounds. 12 teams, 19 drivers, 3 chassis, 3 engines, and 3 tires competed.
| Team | # | Driver | Chassis | Engine | Tyre | Rounds |
|---|---|---|---|---|---|---|
| Heros Racing | 1 | | March 86J | Honda | B | All |
| Hoshino Racing | 2 | | March 86J | Honda | B | All |
| Speed Box Motor Sports | 3 | | March 86J | Yamaha | D | All |
| Speed Star Wheel Racing Team | 5 | | March 85J March 86J | Yamaha | D | All |
| 6 | | March 86J | All | |||
| Takuya Racing | 7 | | March 85J March 86J | Yamaha | B | All |
| 11 | | March 85J | 8 | |||
| Team LeMans | 8 | | March 86J | Yamaha | B | All |
| 18 | | March 86J | 8 | |||
| Team Nova | 9 | | March 85J March 86J | Honda | B | All |
| Takeshi Project Racing | 10 | | March 85J | BMW | Y | 1-2, 4-8 |
| Team Equipe | 12 | | Maurer MM81 | BMW | D | 1, 4 |
| Leyton House Racing | 16 | | March 86J | Yamaha | B | 1 |
| | 5-6, 8 | |||||
| | 7 | |||||
| Advan Sports Racing Team JPS Advan Advan Sports Shigeyama Racing | 24 | | March 86J | Yamaha | Y | All |
| 25 | | All | ||||
| 26 | | All | ||||
| Shimizu Racing | 33 | | March 85J | Yamaha | D | 1-2, 4, 7-8 |
[1] ^ Akira Hagiwara was killed in a testing accident at Sportsland SUGO on 7 April, two weeks before the second round of the season.
| Date | Round | Circuit | Winning driver | Winning team | Winning car |
|---|---|---|---|---|---|
| 09/03/1986 | Rd.1 | Suzuka | | Team LeMans | March-Yamaha 86J |
| 20/04/1986 | Rd.2 | Fuji | | Takuya Racing | March-Yamaha 86J |
| 11/05/1986 | Rd.3 | Mine | | Team LeMans | March-Yamaha 86J |
| 25/05/1986 | Rd.4 | Suzuka | | Heros Racing | March-Honda 86J |
| 06/07/1986 | Rd.5 | Suzuka | | Hoshino Racing | March-Honda 86J |
| 10/08/1986 | Rd.6 | Fuji | | Team Nova | March-Honda 86J |
| 28/09/1986 | Rd.7 | Suzuka | | Hoshino Racing | March-Honda 86J |
| 02/11/1986 | Rd.8 | Suzuka | | Hoshino Racing | March-Honda 86J |
For every race points were awarded: 20 points to the winner, 15 for runner-up, 12 for third place, 10 for fourth place, 8 for fifth place, 6 for sixth place, 4 for seventh place, 3 for eighth place, 2 for ninth place and 1 for tenth place. No additional points were awarded. The best six results count. Five drivers had a point deduction, which are given in ().