| Postseason: |
Lost World Series (4-3) to New York Mets Won AL Championship Series (4-3) over California Angels |

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Transactions listed are from November 1 of previous year to April 1 of the following year.
November 12, 1985
Bruce Kison granted Free Agency.
Rick Miller granted Free Agency.
November 13, 1985
Traded Chris Bayer (minors), Tom McCarthy, John Mitchell and Bob Ojeda to the New York Mets. Received John Christensen, Wes Gardner, Calvin Schiraldi and La Schelle Tarver.
November 14, 1985
Released Jim Dorsey.
December 10, 1985
Released Jerry Remy.
December 11, 1985
Traded Mark Clear to the Milwaukee Brewers. Received Ed Romero.
December 12, 1985
Traded Charlie Mitchell to the Minnesota Twins. Received Mike Stenhouse.
December 17, 1985
Traded Jackie Gutierrez to the Baltimore Orioles. Received Sammy Stewart.
January 14, 1986
Drafted Alan Mills in the 1st round (13th pick) of the 1986 amateur draft (January), but did not sign the player.
Drafted Curt Schilling in the 2nd round of the 1986 amateur draft (January). Player signed May 30, 1986.
January 31, 1986
Released Jim Corsi.
Signed Joe Sambito as a free agent.
March 19, 1986
Released Ed Jurak.
March 28, 1986
Traded Mike Easler to the New York Yankees. Received Don Baylor.
April 5, 1986 (Standings)
Signed Jim Corsi as a free agent.
June 2, 1986 (Standings)
Drafted Scott Cooper in the 3rd round of the 1986 amateur draft. Player signed June 8, 1986.
June 16, 1986 (Standings)
Signed Ken Ryan as an amateur free agent.
June 29, 1986 (Standings)
Traded Steve Lyons to the Chicago White Sox. Received Tom Seaver.
August 19, 1986 (Standings)
Traded players to be named later, Rey Quinones and cash to the Seattle Mariners. Received Dave Henderson and Spike Owen. The Boston Red Sox sent Mike Brown (August 22, 1986), Mike Trujillo (August 22, 1986) and John Christensen (September 25, 1986) to the Seattle Mariners to complete the trade.
October 15, 1986 (Standings)
Mike Stenhouse granted Free Agency.
November 12, 1986
Tony Armas granted Free Agency.
Rich Gedman granted Free Agency.
Glenn Hoffman granted Free Agency.
Joe Sambito granted Free Agency.
Tom Seaver granted Free Agency.
Dave Stapleton granted Free Agency.
Sammy Stewart granted Free Agency.
December 5, 1986
Signed Joe Sambito as a free agent.
December 20, 1986
Signed Glenn Hoffman as a free agent.
March 30, 1987
Released Tim Lollar.