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Date: 22 October 1968 / 25 October 1968
Heats
Repechages
Semi-finals
Final
| Rank | Name | Nation | Time |
| 1 | Mihaly Hesz | HUN | 4:02.63 |
| 2 | Alexander Shaparenko | URS | 4:03.58 |
| 3 | Erik Hansen | DEN | 4:04.39 |
| 4 | Wladyslaw Szuszkiewicz | POL | 4:06.36 |
| 5 | Rolf Peterson | SWE | 4:07.86 |
| 6 | Vaclav Mara | TCH | 4:09.35 |
| 7 | Andrei Contolenco | ROU | 4:09.96 |
| 8 | Wolfgang Lange | GDR | 4:10.03 |
| 9 | Paul Hoekstra | NED | 4:13.28 |
| Semi-finals | |||
| 10 | John Glair | USA | 4:08.31 |
| 10 | Marc Moens | BEL | 4:06.55 |
| 10 | Rolf Olsen | NOR | 4:09.08 |
| 13 | John Glavin | GBR | 4:14.93 |
| 13 | Adrian Powell | AUS | 4:08.76 |
| 13 | Jose Mari Colom | ESP | 4:13.17 |
| 16 | Jouko Viitamaki | FIN | 4:21.52 |
| 16 | Gabor Joo | CAN | 4:17.50 |
| 16 | Horst Mattern | FRG | 4:13.46 |
| Repechages | |||
| 19 | Jerome Dogo Gaye | CIV | 4:31.69 |
| 19 | Fidel Santander | MEX | 4:30.09 |
| Heats | |||
| 21 | Ilkka Nummisto | FIN | 4:22.20 |
| Did not finish | |||
| Fernando Inchauste | BOL | ||
| Did not start | |||
| Gunther Pfaff | AUT | ||