Incumbent Republican Governor Francis E. McGovern defeated Democratic nominee John C. Karel and Socialist nominee Carl D. Thompson, with 45.54% of the vote.

This was the closest gubernatorial election in Wisconsin during the Fourth Party System and one of only two decided by single digits during that era.

This streak would eventually reach 19 consecutive Republican wins before being broken in 1932.

Karel was the first Democrat since George W. Peck in 1890 to carry Racine County.

Portage County voted for the losing candidate for the first time since 1873.