The 3rd Don Carlos Palanca Memorial Awards for Literature was held to commemorate the memory of Don Carlos Palanca Sr. through an endeavor that would promote education and culture in the country.^[1]

English Division

Short Story

• First Prize: Andres Cristobal Cruz, "The Quarrel"
• Second Prize: N.V.M. Gonzales, "Lupo and the River"
• Third Prize: Rony V. Diaz, "The Centipede"

Filipino Division

Maikling Kwento

• First Prize: Buenaventura S. Medina Jr., "Kapangyarihan"
• Second Prize: Hilario Coronel, "Ang Anluwage"
• Third Prize: Ponciano B. Pineda, "Malalim ang Gabi"