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The 1996 Kentucky Derby was the 122nd running of the Kentucky Derby. The race took place on May 4, 1996. There were 142,668 in attendance. The loss by 7-2 favorite Unbridled's Song marked the 17th year in a row that the betting favorite failed to win the race. The winning horse Grindstone was sired by another Kentucky Derby winner, Unbridled.
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- $2 Exacta: (2-12) Paid $61.80
- $2 Trifecta: (2-12-7) Paid $600.60
- $1 Superfecta: (2-12-7-3) Paid $5,844.20
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