| State: | NM |
| Type: | SR |
| Route: | 132 |
| Map Custom: | yes |
| Map Notes: | NM 132 highlighted in red |
| Length Mi: | 19.760 |
| Length Ref: | [1] |
| Direction A: | South |
| Terminus A: | in Hobbs |
| Junction: | near Knowles |
| Direction B: | North |
| Terminus B: | at the Texas/ New Mexico border |
| Counties: | Lea |
| Previous Type: | NM |
| Previous Route: | 131 |
| Next Type: | NM |
| Next Route: | 133 |
State Road 132 (NM 132) is a state highway in the US state of New Mexico. Its total length is approximately 19.76miles. NM 132's southern terminus is at NM 18/NM 218 in Hobbs, and the northern terminus is at Texas State Highway 83 (SH 83) and Farm to Market Road 769 (FM 769) at the Texas–New Mexico state line.