Chile was represented at the OTI Festival 1986 with the song "", written and performed by . The Chilean participating broadcasters, (TVN), (UCTV), and (UTV), jointly selected their entry through a national televised competition with several phases. The song, that was performed in position 10, was not among the top-three places revealed. In addition, the three broadcasters were also the host broadcasters and staged the event at the Municipal Theatre in Santiago.
(TVN), (UCTV), and (UTV), held a national competition jointly to select their entry for the 15th edition of the OTI Festival. This edition of the national selection featured sixteen songs in the televised qualifying rounds, and eight in the final.
The shows were staged by TVN at its studios, and were broadcast on TVN's , UCTV's , and UTV's .
The two qualifying rounds were held on Saturdays 4 and 11 October 1986. Each round featured eight entries, of which the four highest-scoring advanced to the final. The first round was presented by Pamela Hodar and , and featured guest performances by the ballet Huganzas, Verónica Brignole, ÃÂngelo Venturini, Patricia Valenzuela, and José Zardoya; while the second round was presented by Katherine Salosny and , and featured guest performances by Santiago Cuatro, and .
The jury was composed of representing UCTV, representing UTV, representing TVN, Franz Benko, and José Luis Cordova.
The final was held on Saturday 18 October 1986, and was presented by Pamela Hodar. The winner was "", written and performed by ; with "", written by Francisco LarraÃÂn and performed by Jaime Uauy, placing second; and "", written by Ricardo de la Fuente and performed by Norman Ilic, placing third.
On 15 November 1986, the OTI Festival was held at the Municipal Theatre in Santiago, Chile, hosted by TVN, UCTV, and UTV, and broadcast live throughout Ibero-America. Pancho Puelma performed "" in position 10, with Pancho Aranda conducting the event's orchestra. In order for the song to participate in the festival, it was necessary to shorten it to fit within the required three minutes, as it originally lasted almost four minutes. The song was not among the top-three places revealed.
The festival was broadcast on TVN's Canal 7, UCTV's Canal 13, and UTV's Canal 11.