The 1987 America's Cup was the 26th America's Cup challenge and the first time in 132 years that it was not defended by the New York Yacht Club.
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The American challenger Stars & Stripes 87, skippered by Dennis Conner, defeated the Australian defender Kookaburra III, skippered by Iain Murray, four wins to nil in a best of seven race series. Conner thus became the first entity to unsuccessfully defend the America's Cup and then win it again.
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The racing took place in Fremantle, Western Australia during the Australian summer months between October 1986 and February 1987. The Royal Perth Yacht Club was the defending team and organised the America's Cup racing. The Yacht Club Costa Smeralda of Porto Cervo, Sardinia was named Challenger of Record and, therefore, organiser of the challenger selection series.
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This was the last time that the 12-meter S.I. class yachts were used in the America's Cup.