The women's 500 metres in speed skating at the 1968 Winter Olympics took place on 9 February, at the L'Anneau de Vitesse.

Records Prior to this competition, the existing world and Olympic records were as follows:

Results

Rank Athlete Country Time Lyudmila Titova 46.1 Jenny Fish 46.3 Dianne Holum 46.3 Mary Meyers 46.3 5 Ellie van den Brom 46.66 Kaija Mustonen 46.7 Sigrid Sundby-Dybedahl 46.7 8 Kirsti Biermann 46.89 Irina Yegorova 46.9 Tatyana Sidorova 46.9 11 Lisbeth Korsmo-Berg 47.012 Arja Kantola 47.4 Evi Sappl 47.4 14 Stien Kaiser 47.6 15 Christina Lindblom-Scherling 47.716 Wil Burgmeijer 47.8 Ruth Schleiermacher 47.8 18 Kaija-Liisa Keskivitikka 48.119 Marie-Louise Perrenoud 48.2 Wendy Thompson 48.2 21 Hildegard Sellhuber 48.4 22 Martine Ivangine 48.5 23 Marcia Parsons 48.8 24 Doreen McCannell 49.0 25 Misae Takeda 49.4 26 Ylva Hedlund 49.9 27 Kaname Ide 50.0 - Sachiko Saito DNF

References