The 1968–69 SM-sarja season was the 38th season of the SM-sarja, the top level of ice hockey in Finland. 12 teams participated in the league, and HIFK Helsinki won the championship.
| Club | GP | W | T | L | GF–GA | Pts | ||
|---|---|---|---|---|---|---|---|---|
| 1. | 22 | 18 | 2 | 2 | 106:45 | 38 | ||
| 2. | 22 | 14 | 4 | 4 | 129:63 | 32 | ||
| 3. | 22 | 13 | 2 | 7 | 80:62 | 28 | ||
| 4. | 22 | 9 | 6 | 7 | 82:73 | 24 | ||
| 5. | 22 | 10 | 3 | 9 | 89:69 | 23 | ||
| 6. | 22 | 10 | 3 | 9 | 70:70 | 23 | ||
| 7. | 22 | 10 | 2 | 10 | 64:74 | 22 | ||
| 8. | 22 | 10 | 1 | 11 | 73:85 | 21 | ||
| 9. | 22 | 9 | 2 | 11 | 86:89 | 20 | ||
| 10. | 22 | 7 | 1 | 14 | 75:94 | 15 | ||
| 11. | 22 | 5 | 4 | 13 | 59:90 | 14 | ||
| 12. | 22 | 2 | 0 | 20 | 47:146 | 4 |