Luis María del Corazón de Jesús Dionisio Argaña Ferraro (October 3, 1932 – March 23, 1999)[2] was a Paraguayan politician and jurist.

Despite his long identification with Stroessner, Argaña was a member of the "traditionalist" faction of the Colorados, which had come to favor a more humane way of ruling the country.

Soon after stepping down from the Supreme Court, he accused Stroessner of running a police state, and claimed that "imposters" had taken over the party.

[4] Nonetheless, during the democratic era, Argaña was criticised for bringing Stroessner's era officials back to political life through his faction Colorado Reconciliation Movement, and uring his bid to become the Colorado candidate for president in the 1993 elections, he publicly vowed that if elected, he would allow Stroessner to return from exile.

Although leading opinion polling at one point,[5] he lost the Colorado Party primary to Juan Carlos Wasmosy who went on to win the 1993 general election.

In January 2008, however, Paraguayan congressman Juan Carlos "Calé" Galaverna admitted to committing electoral fraud in the December 1992 Colorado primary elections to prevent Argaña from winning.