The 2nd Carlos Palanca Memorial Awards for Literature was held to commemorate the memory of Carlos T. Palanca, Sr. through an endeavor that would promote education and culture in the country.
English Division
Short Story
- First Prize: Kerima Polotan, "The Virgin"
- Second Prize: N.V.M. Gonzales, "Children of the Ash-covered Loam"
- Third Prize: Bienvenido N. Santos, "Even Purple Hearts"
Filipino Division
Maikling Kwento
- First Prize: Pablo N. Bautista, "Kahiwagaan"
- Second Prize: M.J. Ocampo, "Kamatayan sa Gulod"
- Third Prize: Genoveva Edroza Matute, "Pagbabalik"