The men's 200 metre freestyle event at the 1968 Olympic Games took place on 24 October at the Alberca Olímpica Francisco Márquez.

Americans Don Schollander and John Nelson took silver and bronze, respectively (with the United States podium streak thereby being two Games over 64 years).

Don Schollander was the heavy favourite in the event, having broken the world record five times since Tokyo 1964 (the last Games without the 200 metre freestyle on the programme).

Michael Wenden of Australia had won the 100 metre freestyle (in which Schollander did not compete) earlier at the 1968 Olympics and was looking for a double.

John Nelson set a new Olympic record at 1:59.5 in the first heat; Michael Wenden immediately broke it with 1:59.3 in the second.

In the fourth and eighth heats, Don Schollander and Ralph Hutton tied the old record (behind Nelson and Wenden's new efforts).