The 1968 Australian One and a Half Litre Championship was a CAMS sanctioned motor racing title for drivers of Australian 1½ Litre Formula racing cars. It was the fifth and final Australian One and a Half Litre Championship to be awarded prior to the demise of the formula at the end of 1968.
The title was contested over a six heat series, run concurrently with the 1968 Australian Drivers' Championship.
Championship points were awarded on a 9-6-4-3-2-1 basis to the drivers of the six best placed Australian 1½ Litre Formula cars at each heat. The best five results from the six heats could be retained by each driver.