| Manager | Benny Rooney (Sacked 31/03/1986) Bertie Auld (Appointed 31/03/1986) |
| Final League Position | 8th in the 1st Division |
| Club Directory | |
| Team Group | |
| Squad List | |
| Top Goalscorer | Gordon Smith with 12 Goals |
| Date | Opposition | Competition | Result | Scorers | Attendance | |||
| July | 28 | Queen's Park | Friendly | 1-2 | Watson | 150 | ||
| July | 31 | Stirling Albion | Friendly | 0-1 | – | 400 | ||
| Aug | 3 | St Johnstone | Friendly | 0-2 | – | 476 | ||
| Aug | 6 | Troon Juniors | Friendly | ? | ? | ? | ||
| Aug | 10 | MORTON | (Fine Fare) 1st Division | 1-1 | J Donnelly | 2,262 | ||
| Aug | 17 | Dumbarton | 1st Division | 2-1 | Logan, Law | 2,500 | ||
| Aug | 21 | Motherwell | (Skol) League Cup 2nd Round | 0-1 | – | 2,996 | ||
| Aug | 24 | Airdrieonians | 1st Division | 2-2 | J Donnelly (2) | 3,000 | ||
| Aug | 31 | CLYDE | 1st Division | 1-3 | Kelly | 2,316 | ||
| Sept | 7 | Kilmarnock | 1st Division | 0-5 | – | 1,950 | ||
| Sept | 14 | ALLOA ATHLETIC | 1st Division | 1-2 | McKenzie | 1,463 | ||
| Sept | 21 | HAMILTON ACADEMICAL | 1st Division | 1-2 | Gallagher | 1,481 | ||
| Sept | 28 | Falkirk | 1st Division | 3-2 | McDonald, Smith, J Donnelly | 3,000 | ||
| Oct | 5 | FORFAR ATHLETIC | 1st Division | 0-3 | – | 1,686 | ||
| Oct | 12 | East Fife | 1st Division | 1-1 | McDonald | 1,016 | ||
| Oct | 19 | BRECHIN CITY | 1st Division | 2-1 | J Donnelly, Smith | 1,578 | ||
| Oct | 26 | MONTROSE | 1st Division | 2-0 | Smith, J Donnelly | 1,613 | ||
| Nov | 2 | Ayr United | 1st Division | 3-1 | Smith, Logan, Herd | 2,083 | ||
| Nov | 9 | KILMARNOCK | 1st Division | 1-1 | OG (Clarke) | 2,391 | ||
| Nov | 16 | Alloa Athletic | 1st Division | 1-1 | Smith | 1,363 | ||
| Nov | 19 | CELTIC | Glasgow Cup Semi-Final | 2-3 | Logan, Herd | 4,161 | ||
| Nov | 23 | Hamilton Academical | 1st Division | 2-2 | Gallagher, J Donnelly | 2,000 | ||
| Nov | 30 | FALKIRK | 1st Division | 1-2 | Gallagher | 2,940 | ||
| Dec | 7 | Forfar Athletic | 1st Division | 1-1 | J Donnelly | 872 | ||
| Dec | 14 | EAST FIFE | 1st Division | 1-0 | J Donnelly | 1,476 | ||
| Dec | 21 | Brechin City | 1st Division | 0-2 | – | 800 | ||
| Jan | 11 | Morton | 1st Division | 1-3 | J Donnelly | 2,000 | ||
| Jan | 18 | Montrose | 1st Division | 1-3 | Gallagher | 700 | ||
| Jan | 25 | Airdrieonians | Scottish Cup 3rd Round | 0-0 | – | 3,107 | ||
| Feb | 1 | AYR UNITED | 1st Division | 2-2 | McDonald, Watson | 1,545 | ||
| Feb | 3 | AIRDRIEONIANS | Scottish Cup 3rd Round Replay | 1-2 | J Donnelly | 2,422 | ||
| Feb | 15 | Morton | Friendly | 1-3 | Kelly | ? | ||
| Feb | 22 | Airdrieonians | 1st Division | 0-0 | – | 1,200 | ||
| Mar | 5 | AIRDRIEONIANS | 1st Division | 1-0 | OG (McKeown) | 1,105 | ||
| Mar | 8 | DUMBARTON | 1st Division | 1-2 | Smith | 2,848 | ||
| Mar | 12 | Clyde | 1st Division | 2-2 | Smith, McDonald | 1,500 | ||
| Mar | 15 | MORTON | 1st Division | 3-3 | Smith, Watson, Kelly | 1,475 | ||
| Mar | 19 | DUMBARTON | 1st Division | 2-2 | Watson (2) | 1,438 | ||
| Mar | 22 | Alloa Athletic | 1st Division | 2-2 | Smith (2) | 608 | ||
| Mar | 25 | EAST FIFE | 1st Division | 0-1 | – | 969 | ||
| Mar | 29 | HAMILTON ACADEMICAL | 1st Division | 0-2 | – | 2,559 | ||
| Apr | 2 | Falkirk | 1st Division | 2-2 | Smith, Watson (pen) | 2,500 | ||
| Apr | 5 | Ayr United | 1st Division | 3-2 | Smith, Logan, Law | 1,750 | ||
| Apr | 9 | CLYDE | 1st Division | 2-2 | Law, Watson (pen) | 1,922 | ||
| Apr | 12 | Montrose | 1st Division | 1-0 | Watson | 800 | ||
| Apr | 19 | Forfar Athletic | 1st Division | 1-2 | Mackin | 1,063 | ||
| Apr | 26 | KILMARNOCK | 1st Division | 2-0 | Kelly (2) | 2,500 | ||
| May | 3 | BRECHIN CITY | 1st Division | 1-1 | McDonald (pen) | 1,000 | ||
| Others: | ||||||||
| Aug | 14 | DUMBARTON | Reserve League West | 2-3 | Mullen, E Gallagher | |||
| Aug | 22 | Hamilton Academical | Reserve League West | 2-1 | McDonald, o.g. | |||
| Aug | 26 | KILMARNOCK | Reserve League West | 4-1 | E Gallagher (3), Kelly | |||
| ? | ? | CLYDEBANK | (BP) Youth Cup 1st Round | 0-0 | – | Clydebank Won 8-7 on Penalties | ||
| Sept | 2 | Morton | Reserve League West | 1-1 | McKenzie | |||
| Sept | 4 | QUEEN'S PARK | Reserve League Cup 1st Round | 2-3 | McKenzie (2) | |||
| Sept | 11 | Queen's Park | Reserve League West | 2-1 | Logan, Kelly | |||
| Sept | 16 | QUEEN OF THE SOUTH | Reserve League West | 2-0 | E Gallagher (2) | |||
| Sept | 30 | AYR UNITED | Reserve League West | 2-1 | Pathak, Kelly | |||
| Oct | 7 | Clyde | Reserve League West | 3-3 | Kelly, Pathak (2) | |||
| Oct | 21 | HAMILTON ACADEMICAL | Reserve League West | 1-2 | E Gallagher | |||
| Oct | 23 | Dumbarton | Reserve League West | 3-3 | E Gallagher (2), Stevens | |||
| Oct | 30 | Kilmarnock | Reserve League West | 3-1 | Watson, McIntyre, OG (Millar) | |||
| Nov | 4 | MORTON | Reserve League West | 3-1 | McQuade, Gallagher (2) | |||
| Nov | 18 | Queen of the South | Reserve League West | 1-2 | E Gallagher | |||
| Nov | 25 | AIRDRIEONIANS | Reserve League West | 1-1 | Mullen | |||
| Dec | 2 | Ayr United | Reserve League West | 0-2 | – | |||
| Dec | 9 | CLYDE | Reserve League West | 2-1 | Kelly, Mullen | |||
| Dec | 16 | QUEEN'S PARK | Reserve League West | 4-2 | McIntyre (2), Logan, McQuade | |||
| Dec | 23 | Airdrieonians | Reserve League West | 1-3 | Kelly | |||
| Feb | 10 | ? | Supplementary Spring League | ? | ||||
| Mar | 11 | Queen's Park | Supplementary Spring League | 2-2 | McIntyre (2) | |||
| Mar | 13 | Morton | Supplementary Spring League | 2-2 | E Gallagher, Mullen | |||
| Mar | 17 | QUEEN OF THE SOUTH | Supplementary Spring League | 3-2 | E Gallagher (2), Pathak | |||
| Mar | 27 | Airdrieonians | Supplementary Spring League | 1-1 | McKenzie | |||
| Apr | 1 | AYR UNITED | Supplementary Spring League | 2-1 | E Gallagher (2) | |||
| Apr | 9 | Clyde | Supplementary Spring League | 1-0 | Pathak | |||
| Apr | 14 | DUMBARTON | Supplementary Spring League | 2-2 | Trainer, Trialist C | |||
| Apr | 21 | KILMARNOCK | Supplementary Spring League | 2-2 | McQuade, trialist | |||
| Apr | 28 | Hamilton Academical | Supplementary Spring League | 3-1 | ? | |||