The 1987 Sovran Bank 500 was the eighth stock car race of the 1987 NASCAR Winston Cup Series season and the 38th iteration of the event. The race was held on Sunday, April 26, 1987, before an audience of 40,000 in Martinsville, Virginia at Martinsville Speedway, a 0.526 miles (0.847 km) permanent oval-shaped short track. The race took the scheduled 500 laps to complete.

Taking advantage of a misfortunate Geoff Bodine, who spun from a large lead over the field with 17 laps in the race, Richard Childress Racing's Dale Earnhardt managed to hold the lead after Bodine's spin to take his 26th career NASCAR Winston Cup Series victory, his sixth victory of the season, and his fourth straight victory, increasing his driver's championship points lead to 157 points.^[1][2] To fill out the top three, Blue Max Racing's Rusty Wallace and the aforementioned Geoff Bodine finished second and third, respectively.

Martinsville Speedway is an NASCAR-owned stock car racing track located in Henry County, in Ridgeway, Virginia, just to the south of Martinsville. At 0.526 miles (0.847 km) in length, it is the shortest track in the NASCAR Cup Series. The track was also one of the first paved oval tracks in NASCAR, being built in 1947 by H. Clay Earles. It is also the only remaining race track that has been on the NASCAR circuit from its beginning in 1948.

Qualifying was originally scheduled to be split into two rounds. The first round was held on Thursday, April 23, at 2:00 pm EST. Originally, the first 20 positions were going to be determined by first round qualifying, with positions 21–30 meant to be determined the following day on Friday, April 24.^[3] However, due to rain, the second round was cancelled. As a result, the rest of the starting lineup was set using the results from the first round. Depending on who needed it, a select amount of positions were given to cars who had not otherwise qualified but were high enough in owner's points; up to two were given.^[4]

Morgan Shepherd, driving for King Racing, managed to win the pole, setting a time of 20.728 and an average speed of 91.355 miles per hour (147.022 km/h).^[5]

No drivers failed to qualify.