The 1968 All-Southwest Conference football team consists of American football players chosen by various organizations for All-Southwest Conference teams for the 1968 NCAA University Division football season. The selectors for the 1968 season included the Associated Press (AP).

• Edd Hargett, Texas A&M (AP-1)

• Chris Gilbert, Texas (AP-1) (CHFOF)
• Mike Richardson, SMU (AP-1)

• Jackie Stewart, Texas Tech (AP-1)
• Steve Worster, Texas (AP-1)

• Jerry LeVias, SMU (AP-1) (CFHOF)
• Chuck Dicus, Arkansas (AP-2)

• Deryl Comer, Texas (AP-1)
• Ken Fleming, SMU (AP-2)

• Dick Stevens, Baylor (AP-1)
• Terry May, SMU (AP-1)
• Leland Winston, Rice (AP-2)
• Webster Hubbell, Arkansas (AP-2)

• Jim Barnes, Arkansas (AP-1)
• Don King, Texas Tech (AP-1)
• Danny Abbott, Texas (AP-2)
• Ken Gidney, Texas (AP-2)

• Rodney Brand, Arkansas (AP-1)
• Calvin Hunt, Baylor (AP-1)
• Forrest Wiegand, Texas (AP-2)

• Richard Campbell, Texas Tech (AP-1)
• Mike De Niro, Texas A&M (AP-1)

• Leo Brooks, Texas (AP-1)
• Loyd Wainscott, Texas (AP-1)

• Larry Adams, TCU (AP-1)
• Rolf Krueger, Texas A&M (AP-1)

• Bill Hobbs, Texas A&M (AP-1)
• Cliff Powell, Arkansas (AP-1)

• Gary Adams, Arkansas (AP-1)
• Larry Alford, Texas Tech (AP-1)
• Jim Livingston, SMU (AP-1)

• Ken Vinyard, Texas Tech (AP-1) (placekicker)
• Steve O'Neal, Texas A&M (AP-1) (punter)

AP = Associated Press^[1]

CFHOF = Player inducted into the College Football Hall of Fame

• 1968 College Football All-America Team