Presidential elections were held in Paraguay on 11 July 1954, following a military coup on 8 May 1954 which toppled Federico Chávez who had been re-elected the previous year. At the time, the Colorado Party was the only legally permitted party. Alfredo Stroessner, who had led the coup, ran as the Colorado candidate in a special election for the remainder of Chávez' term, and was elected unopposed.
This was the first of Stroessner's eight consecutive election victories.