Highway 186 (AR 186, Ark. 186, and Hwy. 186) is an east–west state highway in Franklin County, Arkansas. The route of 9.54 miles (15.35 km) runs north from Coal Road at Alix through Altus to Philpot Road north of Interstate 40.

The route begins at County Route 97 (Coal Road) at Alix and runs north and west to Altus. After crossing US 64, AR 186 continues north to pass the Our Lady of Perpetual Help Church, which is listed on the National Register of Historic Places, and enter the Wiederhekr Village corporate limits. The road meets I-40 at exit 41 at a full interchange. Highway 186 continues north to terminate at County Road 90 (Philpot Road).

The entire route is in Franklin County.