The 1968 Australian Grand Prix was a motor race held at Sandown Park in Victoria, Australia on 25 February 1968. The race was open to Racing Cars complying with the Australian National Formula or the Australian 1½ Litre Formula. It was the thirty third Australian Grand Prix and was also round seven of the 1968 Tasman Series. The race was staged by the Light Car Club of Australia and was sponsored by the Royal Automobile Club of Victoria.

The Australian Grand Prix is an annual motor racing event which is under contract to host Formula One until 2035. One of the oldest surviving motorsport competitions held in Australia, the Grand Prix has moved frequently with 23 different venues having been used since it was first run at Phillip Island in 1928. The race became part of the Formula One World Championship in 1985. Since 1996, it has been held at the Albert Park Circuit in Melbourne, with the exceptions of 2020 and 2021, when the races were cancelled due to the COVID-19 pandemic. Before that, it was held in Adelaide.