1987 Arkansas State Indians football team

The 1987 Arkansas State Indians football team represented Arkansas State University as an independent during the 1987 NCAA Division I-AA football season. Led by ninth-year head coach Larry Lacewell, the Indians finished the season with a record of 8–4–1. Arkansas State advanced to the advanced to the NCAA Division I-AA Football Championship playoffs, where they defeated Jackson State in the first round and lost to Northern Iowa in the quarterfinals.