| Government Head Title: | Prime Minister |
| Deputy Government Head Title: | Chancellor of the Exchequer |
| Deputy Government Head: | Benjamin Disraeli (1866–1868) |
| State Head Title: | Monarch |
| State Head: | Victoria |
| Total Number: | 105 appointments |
| Political Party: | Conservative Party |
| Legislature Term: | 19th UK Parliament |
| Last Election: | 1868 general election |
| Opposition Party: | Liberal Party |
| Previous: | Second Russell ministry |
| Successor: | First Gladstone ministry |
The Conservative government of the United Kingdom of Great Britain and Ireland that began in 1866 and ended in 1868 was led by Lord Derby in the House of Lords and Benjamin Disraeli in the House of Commons.
Lord Derby became prime minister for the third time, after the fall of Lord Russell's Liberal government, in 1866. His Chancellor of the Exchequer, Benjamin Disraeli, was instrumental in passing the Second Reform Act in 1867.
After the parliamentary session, which produced the Second Reform Bill, Disraeli's eventual assumption of the leadership of the Conservative Party was all but assured. While he was still opposed by elements of the party's right wing (most notably the Marquess of Salisbury, himself a future prime minister), his role in securing the passage of the bill, in particular his showing against William Ewart Gladstone, had won him the adulation of a wide base of the parliamentary party. The only unknown was the health of the Earl of Derby, still very much prime minister, Conservative leader, and Disraeli's colleague.
Derby's health, however, had been in decline for some time, and he finally resigned in February and advised Queen Victoria to send for Disraeli. Thus on 27 February 1868 Benjamin Disraeli became Prime Minister of the United Kingdom. He reportedly said of the event later, "I have climbed to the top of the greasy pole." However, the Conservatives were still a minority in the House of Commons, and the enaction of the Reform Bill required the calling of new election. Disraeli's term as prime minister would therefore be fairly short, unless the Conservatives managed to win the general election.
Although all the cabinet posts were at his disposal, Disraeli made only a few changes: he replaced Lord Chelmsford as Lord Chancellor with Lord Cairns, and brought in George Ward Hunt as Chancellor of the Exchequer. Disraeli and Chelmsford had never got on, and in Disraeli's view, Cairns was a far stronger minister. He also chose the Earl of Malmesbury to succeed Derby as Leader in the House of Lords.
The principal issue of the 1868 parliamentary session was the Irish Question, manifested this time in the debate over the Anglican Church of Ireland.
The Conservatives were defeated by the Liberals in the general election of 1868, and the new Liberal leader William Ewart Gladstone formed his first government.
Cabinet members are listed in bold face.
. An advanced history of Great Britain from the earliest times to the death of Edward VII . Thomas Frederick Tout . Longmans, Green . New York . 1910 . 740–741 . 13991885M.