The 1968 New Mexico gubernatorial election took place on November 5, 1968, in order to elect the Governor of New Mexico. Incumbent Republican David Cargo ran for reelection to a second term. This election was the last in which the governor was elected to a two-year term, instead of to a four-year term. , this is the last time that Mora County and San Miguel County have voted for the Republican candidate.
The Democratic primary was won by former state senator Fabian Chavez Jr.
The Republican primary was won by Governor David Cargo. He narrowly defeated Clifford Hawley, a securities broker and former state representative who had previously challenged Cargo for the nomination in the 1966 election.
Jose Maestes was the nominee of the People's Constitutional Party. He replaced Reies Tijerina, who was denied ballot access due to his status as a convicted felon.