The 1987 Indiana Hoosiers football team represented Indiana University Bloomington as a member of the Big Ten Conference during the 1987 NCAA Division I-A football season. Led by fourth-year head coach Bill Mallory, the Hoosiers compiled an overall record of 8–4 with a mark of 6–2 in conference play, tying for second place in the Big Ten. Indiana was invited to the Peach Bowl, where they lost to Tennessee. The team played home games at Memorial Stadium in Bloomington, Indiana.