An inbred maize line, designated PH87P, the seeds and plants of inbred maize line PH87P, methods for producing a maize plant, either inbred or hybrid, produced by crossing the inbred maize line PH87P with another maize plant, and seed and plants produced therefrom. The invention also relates to methods for producing a modified PH87P maize plant that comprises in its genetic material one or more transgenes or backcross conversion genes and to the transgenic and backcross conversion maize plants produced by these methods. This invention also relates to methods for producing other inbred and hybrid maize lines derived from inbred maize line PH87P and to the inbred and hybrid maize lines so produced.