The 1986 Independence Bowl was a college football postseason bowl game between the Ole Miss Rebels and the Texas Tech Red Raiders.
The Rebels finished tied for 2nd in the Southeastern Conference in their first bowl game since 1983, which was also in the Independence Bowl. David McWilliams left Texas Tech for the University of Texas prior to the bowl game, leaving the job to Spike Dykes in the first bowl game for the Red Raiders since 1977.
Dykes remained the Red Raiders head coach until 1999, reaching six more bowl games, with the last being against Ole Miss, in 1998. Ole Miss reached four more bowl games with Brewer before he was fired in 1993.