The May 3, 1987 edition of Wrestling Challenge is a Professional wrestling television show of the World Wrestling Federation. It was taped on April 24, 1987 at the Veterans Memorial Coliseum in Phoenix, Arizona.
- Numbers in parentheses indicate the length of the match.
- (c) refers to the champion(s) heading into the match.
- Ricky Steamboat (c) defeats Terry Gibbs to retain the WWF Intercontinental Championship
- Butch Reed, Nikolai Volkoff & The Iron Sheik (w/ Slick) defeat Lanny Poffo, Mario Mancini & Sivi Afi
- King Harley Race (w/ Bobby Heenan) defeats Nelson Veilleux
- The British Bulldogs (Davey Boy Smith & The Dynamite Kid) defeat Rick Gantner & Rocky Stone
- The Can-Am Connection (Rick Martel & Tom Zenk) defeat Kamala & Sika (w/ Kim Chee & Mr. Fuji)
- Ron Bass defeats Rick Hunter