The 1981 New Zealand general election, held on 28 November 1981, was a nationwide vote to determine the shape of the 40th New Zealand Parliament. It saw the governing National Party, led by Robert Muldoon, win a third term in office, but the opposition Labour Party, led by Bill Rowling, won the largest share of the votes cast. Social Credit also won over 20% of the vote – their best result ever – but received no new seats.

The 40th New Zealand Parliament was a term of the Parliament of New Zealand. Its composition was determined by the 1981 election, and it sat until the 1984 election.