| Leo Elthon | |
| Office: | Lieutenant Governor of Iowa |
| Governor: | William S. Beardsley Himself |
| Term Start: | 1953 |
| Term End: | 1957 |
| Predecessor: | William H. Nicholas |
| Successor: | William H. Nicholas |
| Order1: | 32nd Governor of Iowa |
| Lieutenant1: | Himself |
| Term Start1: | November 21, 1954 |
| Term End1: | January 13, 1955 |
| Predecessor1: | William S. Beardsley |
| Successor1: | Leo Hoegh |
| Birth Name: | Leo Elthon |
| Birth Date: | 9 June 1898 |
| Birth Place: | Fertile Iowa, U.S. |
| Death Place: | Fertile, Iowa, U.S. |
| Party: | Republican |
| Nationality: | American |
| Alma Mater: | Augsburg Seminary Iowa State University Hamilton College |
Leo Elthon (June 9, 1898 – April 16, 1967) was the 32nd Governor of Iowa from November 21, 1954 to January 13, 1955. Elthon had been elected the Lieutenant Governor of Iowa in November 1952, and filled the unexpired term of Governor William S. Beardsley, who died in office.
Elthon attended the Augsburg Seminary, Iowa State University, and Hamilton College (Iowa). He became a schoolteacher and school principal. From 1932 until his election as lieutenant governor in 1952, he was a member of the Iowa Senate. After leaving office as governor, he returned to his duties as lieutenant governor until 1957. He then served as mayor of Fertile, Iowa (1958–63) and again in the state Senate (1963–65). He is interred at the Brushpoint cemetery in his hometown of Fertile, Iowa.