The 5th TVyNovelas Awards were an academy of special awards to the best soap operas and TV shows. The awards ceremony took place in 1987 in Centro Libanés, Mexico City, Mexico D.F. The ceremony was televised in Mexico by Canal de las Estrellas.
Raúl Velasco and Gloria Calzada hosted the show. Cuna de lobos won 7 awards, the most for the evening, including Best Telenovela. Other winners El camino secreto, La gloria y el infierno and Pobre juventud won 2 awards, while La indomable and Monte Calvario won 1 each.