The 1998 New Mexico gubernatorial election was a contest to elect the next governor of New Mexico. The winner of the election would serve a term from January 1, 1999 until January 1, 2003. Incumbent Republican (now Libertarian) Governor Gary Johnson was re-elected to a second term. As of 2023, this is the last time a non-Hispanic was elected governor of New Mexico.

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1998 New Mexico gubernatorial election

← 1994 November 3, 1998 2002 →

Nominee Gary Johnson Martin Chávez Party Republican Democratic Running mate Walter Bradley Diane Denish Popular vote 271,948 226,755 Percentage 54.5% 45.5%

County results Johnson:      50–60%      60–70%      70–80% Chávez:      50–60%      60–70%      70–80%

Governor before election Gary Johnson Republican Elected Governor Gary Johnson Republican

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In his campaign, Johnson promised to continue the policies of his first term: improving schools; cutting state spending, taxes, and bureaucracy; and frequent use of his veto and line-item veto power.^[1] Fielding a strong Hispanic candidate in a 40% Hispanic state, the Democrats were expected to oust Johnson,^[2] but Johnson won by a margin of 55% to 45%.^[3] This made him the first governor of New Mexico to serve two successive four-year terms after term limits were expanded to two terms in 1991.^[4] Johnson made the promotion of a school voucher system a "hallmark issue" of his second term.^[5] This election is the first time since 1968 that an incumbent Republican Governor of New Mexico was re-elected or won re-election.

In his campaign, Johnson promised to continue the policies of his first term: improving schools; cutting state spending, taxes, and bureaucracy; and frequent use of his veto and line-item veto power.^[1] Fielding a strong Hispanic candidate in a 40% Hispanic state, the Democrats were expected to oust Johnson,^[2] but Johnson won by a margin of 55% to 45%.^[3] This made him the first governor of New Mexico to serve two successive four-year terms after term limits were expanded to two terms in 1991.^[4] Johnson made the promotion of a school voucher system a "hallmark issue" of his second term.^[5]