The election was the second fought by Liberal leader Pierre Trudeau. The spirit of Trudeaumania had worn off and a slumping economy hurt his party. The Tories were lead by Robert Stanfield, the former premier of Nova Scotia who had an honest but bumbling image.
| Party | Seats | Pop Vote |
| Liberals | 109 | 38.4% |
| Progressive Conservatives | 107 | 35.0% |
| NDP | 31 | 17.7% |
| Social Credit | 15 | 7.6% |
| Other | 1 | 1.3% |
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Preceded by: 1968 Canadian election | Canadian federal elections |
Followed by: 1974 Canadian election |