Cadillac had its best sales year in 1968 due to such a high demand for the Eldorado. The 472 cubic-inch V8 engine had Rochester Quadrajet four-barrel carburetion and delivered 525 pound-feet of torque and 375 horsepower. It had a cast crankshaft and connecting rods, a 15-plate battery, and an integral water crossover pipe with thermostatic passages. The spring rates of the suspension were lowered slightly to improve the ride, the integral air conditioning system was still optional, and an air injector reactor and closed positive crankcase ventilation as standard.

Styling updates to the 1968 Cadillac Eldorado included vertical front parking lamps located on the leading edge of the fenders. The hood was lengthed by 4.5 inches to accommodate recessed windshield wipers. In the back, small round safety lamps were affixed to the fenders.

Standard equipment included power rear quarter ventipanes, retractable headlamp covers, Rosewood pattern dash panel appliques, and the wreath and crest-style Fleetwood emblems located on the hood and deck lid. The interior upholstery options included Deauville cloth with vinyl bolsters in four color choices, genuine leather options, and diamond pattern cloth and vinyl.