| Competition: | Segunda División |
| Season: | 1968–69 |
| Winners: | Sevilla |
| Promoted: | Sevilla Celta Vigo Mallorca |
| Relegated: | Alcoyano Alavés Mestalla Cádiz Indauchu Jerez Industrial |
| League Topscorer: | Quino (32 goals) |
| Best Goalkeeper: | Rodri (0.71 goals/match) |
| Biggest Home Win: | (22 December 1968) |
| Biggest Away Win: | (18 January 1969) (17 March 1969) |
| Highest Scoring: | (22 December 1968) |
| Matches: | 380 |
| Total Goals: | 1036 |
| Prevseason: | 1967–68 |
| Nextseason: | 1969–70 |
The 1968–69 Segunda División season was the 38th since its establishment and was played between 8 September 1968 and 8 June 1969.
20 teams joined the league, including two relegated from the 1967–68 La Liga and 5 promoted from the 1967–68 Tercera División.
| Club | City | Stadium |
|---|---|---|
| Deportivo Alavés | Vitoria | Mendizorroza |
| CD Alcoyano | Alcoy | El Collao |
| Real Betis | Seville | Benito Villamarín |
| Burgos CF | Burgos | El Plantío |
| Cádiz CF | Cádiz | Ramón de Carranza |
| CF Calvo Sotelo | Puertollano | Calvo Sotelo |
| RC Celta Vigo | Vigo | Balaídos |
| Club Ferrol | Ferrol | Manuel Rivera |
| Real Gijón | Gijón | El Molinón |
| CD Ilicitano | Elche | Altabix |
| SD Indauchu | Bilbao | Garellano |
| Jerez Industrial CF | Jerez de la Frontera | Domecq |
| RCD Mallorca | Palma de Mallorca | Luis Sitjar |
| CD Mestalla | Valencia | Mestalla |
| Real Murcia | Murcia | La Condomina |
| Onteniente CF | Ontinyent | El Clariano |
| Real Oviedo | Oviedo | Carlos Tartiere |
| Rayo Vallecano | Madrid | Vallecas |
| Sevilla CF | Seville | Ramón Sánchez Pizjuán |
| Real Valladolid | Valladolid | José Zorrilla |
| Goalscorers | Goals | Team |
|---|---|---|
 Quino | 32 | Real Betis |
| 31 | Mestalla | |
| Germán Muiños | 19 | Ferrol |
| Enrique Galán | 17 | Oviedo |
| Antonio Conesa | 15 | Mallorca |
| Goalkeeper | Goals | Matches | Average | Team | |
|---|---|---|---|---|---|
| Rodri | 27 | 38 | Sevilla | ||
| José Bermúdez | 28 | 37 | Celta Vigo | ||
| Juan Zumalabe | 29 | 34 | Ferrol | ||
| Jesús Castro | 21 | 24 | Real Gijón | ||
| Alejandro Samper | 36 | 35 | Rayo Vallecano |