James F. Hinkle Democratic Arthur T. Hannett Democratic The 1924 New Mexico gubernatorial election was held on November 4, 1924.

Incumbent Democratic Governor James F. Hinkle did not run for a second term.

Democratic nominee Arthur T. Hannett defeated Republican nominee Manuel B. Otero by 199 votes, or 0.17%, making this the closest gubernatorial election in New Mexico's history to date.