The Colombian Presidential election of 1986 was held in two rounds, first on May 25 and the second on June 15. Due to a growing economy, Colombia's successful entry into the nuclear club and the turning tide of the Brazilian War, the second round saw incumbent President and Republican Party candidate Rafael Gusto Villana defeat Chairman of the Senator Mario Reyes of the Social Party with 63.5% of the vote after just narrowly failing to achieve a majority in the first round, giving Villana a full term after having only served roughly three-fourths of the prior Presidential term.

Held concurrently with elections to the Congress for the first time since 1974, the 1986 general election was an overwhelming victory for the Republicans, who seized a majority in the Chamber of Deputies (thus ending their necessity for a coalition government) and in the Senate, the first time in history that the Republicans had controlled both Chambers of Congress as well as the Presidency concurrently. 1986 later became known as the "Year of the Republican Party."

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