Trevor Hebberd, Ray Houghton and Jeremy Charles scored as United ran out 3-0 victors at Wembley.
A number of players have featured for both clubs over the years, including some of those who lined up in 1986.
Current U’s duo Matt Ingram and Matt Phillips, plus Oxford City striker Josh Parker, have also represented both sides, but we picked out six players below who made a notable impact for the two clubs.
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Gary Bannister
After spells at Coventry City and Sheffield Wednesday at the start of his career, the striker grabbed 72 goals for the Hoops during an almost four-year spell.
He was in the QPR side which lost in the Milk Cup final, and would then join United on loan from West Bromwich Albion in 1992.
Bannister netted twice in 10 appearances while with the U’s.
Kevin Brock
Born in Middleton Stoney, midfielder Brock made 305 appearances for United, scoring 32 goals, between November 1979 and May 1987.
He was on the winning side at Wembley in 1986, and would then join the Hoops in August 1987.
Brock had spells at Newcastle United and Stockport County prior to retirement.
John Byrne
Republic of Ireland international striker Byrne lined up alongside Bannister in the Milk Cup final and tested Alan Judge shortly after the U’s doubled their lead.
Byrne scored 36 times in 149 matches for the Hoops, and had stints at Le Havre, Brighton & Hove Albion, Sunderland and Millwall prior to arriving at United.
He grabbed 19 goals in 66 games for the U’s between November 1993 and February 1995.
Jeremy Charles
The aforementioned Charles grabbed the third goal at Wembley in 1986, but began his career at Swansea City.
He signed for the Hoops in November 1983, and then switched to United February 1985.
Sixteen goals in 56 games followed, but injury forced him to retire aged just 27.
Milk Cup final goalscorers Ray Houghton, Trevor Hebberd and Jeremy Charles with the trophy (Image: PA Photos) Rob Dickie
Moving away from the Milk Cup final briefly, centre half Dickie has been a rock at the back for both the U’s and the Hoops in recent years.
He joined United from Reading in January 2018, and after 113 appearances, he moved to QPR for an undisclosed fee in September 2020.
Dickie played 129 times for the Hoops, and switched to Bristol City for a reported £1 million last summer.
Billy Hamilton
After spells with Linfield, QPR and Burnley at the beginning of his career, forward Hamilton joined the U’s in 1984.
He enjoyed a productive little more than two-year stint, but was injured for the Milk Cup final.
Hamilton was capped 41 times by Northern Ireland, and scored five goals.