1987 brought about the eighth generation of the F-Series with a new, more aerodynamic exterior, and as part of the movement towards more fuel efficient models, the Flareside was dropped. The 1987 Ford F150 offered rear antilock brakes, a first in the market. Ford had begun listing their engine sizes in liters rather than cubic inches, so the engine lineup for 1987 was very similar to the previous generation. The straight-6 and 302 cubic inch V8 returned, now known as the 4.9L and the 5.0L, and both of these engines were fuel injected. The 351 (now 5.8L) High Output engine from the 1986 F250 was now available in the F150, making 210 horsepower and 305 lb-ft of torque, and in 1988 the 5.8L received standard fuel injection. Other than that change, the engine lineup would remain the same throughout the entire eighth generation of the F150. The 1987 F150 transmission options began with a 3- and 4- speed automatic and a 4-speed manual transmission, and for 1988 a new 5-speed manual transmission became available for the F150 pickups. The 1987 F150 was offered with both 2- and 4 wheel drive, and in 1989 the F150 featured automatic locking hubs for the first time. F150 4×4 models equipped with the 5.0L V8 could also select Ford’s Touch Drive electronic transfer case.
The 1987 Ford F150 was offered in a regular cab, Super Cab, and Crew Cab, and was available in Base, Custom, XL, XLT, and XLT Lariat trimlines. These trim options were remain the same throughout the generation, but in 1991 a special F150 Nite edition was offered. It was predominantly an appearance package, with the F150 Nite coming with a fully blacked out exterior with a neon pink or blue and purple stripe with the Nite logo on the bedsides.