The 1985–86 NBA season was the 40th season of the National Basketball Association. The season ended with the Boston Celtics winning their third championship of the decade, beating the Houston Rockets 4 games to 2 in the NBA Finals.
* The Kings relocate from Kansas City, Missouri to Sacramento, California. They played their home games at ARCO Arena I for three seasons while ARCO Arena II was under construction.
* The Chicago Bulls are the last Eastern Conference team in NBA history to lose 50 or more games in a season and still make the playoffs.
* The Boston Celtics post an impressive 40–1 (.976) record at home. Their only regular-season home loss occurred on December 6, 1985, to the Portland Trail Blazers, by the score of 121–103. The record would be tied by the San Antonio Spurs in the 2015–16 season. The Celtics would also win all 10 of their home games in the postseason.
* This season marks the first time the NBA hands out a Most Improved Player award at the end of a season. Alvin Robertson of the San Antonio Spurs is the first to win the award. Robertson would also set the record for consecutive games with a steal (105), which stood for 22 years.
* In the third game of the season, Chicago Bulls sensation Michael Jordan suffered a broken left foot and missed the next 64 games. In Game 2 of the Eastern Conference First Round series, Jordan scored 63 points against Boston, an NBA playoff record, but his Chicago Bulls would lose in double overtime.
* All Midwest Division teams make the playoffs, the first time an entire division had done this since the 1983–84 season when all Atlantic Division teams made the playoffs.
* The first NBA draft of the Lottery Era was conducted at the Felt Forum of Madison Square Garden in New York City. Patrick Ewing was selected as the first overall pick by the New York Knicks. Ewing, the winner of the NBA Rookie of the Year Award that season, set the record for most games missed (32) for a Rookie of the Year winner.
* Ralph Sampson's off-balanced buzzer-beating shot in Game 5 of the Western Conference Finals sent the Houston Rockets to their second NBA Finals, defeating the erstwhile defending champion Los Angeles Lakers 4–1. This marked the second and last time in the 1980s a team other than the Lakers represented the West in the NBA Finals (1981, also by the Rockets). The Rockets fell in six games to the Boston Celtics, a similar result to their previous meeting five years earlier.
* Detlef Schrempf became the first German player to enter the NBA. He would later become the first European-born player to be named an All-Star in 1993 and had the most number of seasons played for a European player.
* New Jersey Nets guard Micheal Ray Richardson was banned for life by the NBA for his third violation of the league's anti-drug policy. Houston Rockets guard John Lucas was also suspended by the team for a similar violation; had he not been suspended, he would've played in the NBA Finals for the first time.
* On Wednesday, October 30, 1985, forward Georgi Glouchkov arrived in the U.S. from Bulgaria to play for the Phoenix Suns. He was the first player from a former Eastern Bloc country to play in the NBA. He would make his debut on Wednesday, November 6 against the Atlanta Hawks.
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