The incumbent Australian Labor Party led by Premier of South Australia Don Dunstan won a second term in government, defeating the Liberal and Country League led by Leader of the Opposition Bruce Eastick.

Parliamentary elections for both houses of the Parliament of South Australia were held in South Australia in 1973, which saw Don Dunstan and the Australian Labor Party win a second successive term, against the Liberal and Country League (LCL) led by Bruce Eastick.

Moderate Liberal Movement forces within the LCL broke away to form its own party led by Steele Hall after the election in 1973.

The LCL became the South Australian Division of the Liberal Party of Australia a year after the election.

The Democratic Labor Party, which won 0.71% of the vote and no seats in 1970, chose not to contest the election.