National Narcotics Leadership Act of 1987 - Establishes a Cabinet-level Office of the Director of National Drug Control Policy to coordinate Federal operations and policy on drug control and abuse. Requires the Director of the Office to prepare and submit annual reports on a National and International Drug Control Strategy.

Terminates the National Drug Enforcement Policy Board. Repeals specified provisions of the Comprehensive Crime Control Act of 1984, and the Drug Abuse Prevention, Treatment, and Rehabilitation Act respecting such Board.

Authorizes appropriations.

Establishes the Special Forfeiture Fund. Deposits in such fund all unobligated amounts remaining each year from the Department of Justice Assets Forfeiture Fund and the Customs Forfeiture Fund. Provides that amounts from the Special Forfeiture Fund shall be used for: (1) drug law enforcement activities; and (2) drug abuse education, prevention, treatment, and research. Requires the President to submit, as part of the budget, a request for the use of amounts in the fund. States that funds disbursed under this Act shall supplement, not supplant, funds which would be otherwise available.

Authorizes appropriations for FY 1988 through 1992 for the Department of Justice Assets Forfeiture Fund and the Customs Forfeiture Fund.