The 1948 Nebraska gubernatorial election was held on November 2, 1948, and featured incumbent Governor Val Peterson, a Republican, defeating Democratic nominee, former state Senator Frank Sorrell, to win a second two-year term in office.

Frederick Valdemar Erastus Peterson, also known as Val Peterson, was an American politician and diplomat who served as the 26th governor of Nebraska from 1947 to 1953, as director of the Federal Civil Defense Administration from 1953 to 1957, U.S. ambassador to Denmark from 1957 to 1961, and U.S. Ambassador to Finland from 1969 to 1973.