Abstract. We have obtained optical (BV R, [O iii]λ5007Åand Hα), near infrared (JHK) imaging and long-slit optical spectroscopy for the Blue Compact Dwarf galaxy Mrk 86 (NGC 2537). In this paper, the first of two, we present optical-near-infrared colors and emission-line fluxes for the currently star-forming regions, intermediate aged starburst and underlying stellar population. We also describe the evolutionary synthesis models used in Paper II.The R and Hα luminosity distributions of the galaxy star-forming regions show maxima at M R = −9.5 m and L Hα = 10 37.3 erg s −1 . The underlying stellar population shows an exponential surface brigthness profile with central value, µ E,0 = 21.5 mag arcsec −2 , and scale, α = 0.88 kpc, both measured in the R-band image. In the galaxy outer regions, dominated by this component, no significant color gradients are observed.Finally, a complete set of evolutionary synthesis models have been developed, covering a wide range in metallicity, 1/50 Z < Z < 2 Z , and burst strength, 1 − 10 −4 . These models include nebular continuum and recombination and forbidden-line emission.