The 1954 Minnesota gubernatorial election took place on November 2, 1954. In a rematch of the 1952 election, Minnesota Democratic–Farmer–Labor Party candidate Orville Freeman defeated Republican Party of Minnesota incumbent C. Elmer Anderson.
Freeman was the first member of the DFL to win a gubernatorial election. The party took eight straight losses to the Republicans after the fusion between the Minnesota Democrats and the Farmer-Labor Party, a streak broken by Freeman's victory.
Results.
! scope="col" colspan="2" style="width: 130px"|Party
! scope="col" style="width: 17em"|Candidate
! scope="col" style="width: 5em"|Votes
! scope="col" style="width: 3.5em"|%
! scope="col" style="width: 3.5em"| ;templatestyles src="Template:Tooltip/styles.css" / ;±%
! colspan="3" style="text-align: right; margin-right: 0.5em" | Majority
! colspan="3" style="text-align: right; margin-right: 0.5em" scope=row | Turnout
! style="text-align:right;" | Swing