Children's Television Education Act of 1987 - Amends the Communications Act of 1934 to require each television broadcasting station to broadcast a substantial amount of programming which: (1) serves the educational and informational needs of children who are 12 years old or younger; (2) is reasonably scheduled throughout the week; and (3) is directed to specific age groups of children.

Directs the Federal Communications Commission to designate for hearing any license renewal application by a television station if a petition for denial is filed alleging that the applicant has failed to broadcast a specific minimum amount of such programming. Provides that the burden shall be on the applicant to prove it has fulfilled its obligation to serve the child audience.

Requires the Commission's annual report to the Congress to: (1) list the television licensees whose licenses were renewed notwithstanding a failure to meet children's programming requirements, with an explanation of each such renewal; and (2) describe the implementation of this Act and its impact on children's programming.

Directs the Commission to conduct and report to the Congress on an inquiry into program length commercials and interactive programs for which the primary audience is children who are 12 years old or younger.