| State: | NM |
| Type: | SR |
| Route: | 121 |
| Map Custom: | yes |
| Map Notes: | NM 121 highlighted in red |
| Length Mi: | 8.581 |
| Length Ref: | [1] |
| Direction A: | South |
| Terminus A: | near Holman |
| Direction B: | North |
| Terminus B: | End of state maintenance near Chacon |
| Counties: | Mora |
| Previous Type: | NM |
| Previous Route: | 120 |
| Next Type: | NM |
| Next Route: | 122 |
State Road 121 (NM 121) is a 8.6adj=midNaNadj=mid American state highway in Mora County, New Mexico.[2] Its southern terminus is at NM 518 south of Holman, and its northern terminus is at the end of state maintenance near Chacon.