National Fisheries Marketing and Promotion Act of 1986 - Establishes the National Fisheries Marketing Council (the Council), made up of regional representatives, to: (1) prepare and submit to the Administrator of the National Oceanic and Atmospheric Administration (NOAA) an annual fisheries marketing and promotion plan and an annual budget; and (2) keep certain records and file certain reports. Outlines specified goals of each marketing and promotion plan. Prohibits any reference by the Council to any private brand or trade name.

Directs the Administrator of NOAA to: (1) review and approve the annual marketing and promotion plan and budget within 60 days after submission by the Council; (2) administer the Fisheries Marketing Fund established under this Act; (3) promulgate regulations and provide administrative assistance as necessary; and (4) make all appointments to the Council within 90 days after the enactment of this Act.

Establishes in the Treasury a Fisheries Marketing Fund for making payments to carry out the annual marketing and promotion plan and budget of the Council under this Act. Authorizes voluntary payments and provides for Federal deposits into such Fund.

Directs the Administrator of NOAA, no later than March 1, 1989, to report to the Congress on the effectiveness of the implementation of this Act.