The New London School explosion occurred on March 18, 1937, when a natural gas leak caused an explosion and destroyed the London School in New London, Texas, United States. The disaster killed more than 300 students and teachers. As of 2021, the event is the third-deadliest disaster in the history of Texas, after the 1900 Galveston hurricane and the 1947 Texas City disaster.

In the mid-1930s, despite the ongoing economic turmoil of the Great Depression, the school district in New London, Texas (formerly known as London) was one of the richest in the United States. The 1930 discovery of oil in Rusk County had boosted the local economy, and education spending grew with it. The city's taxable value in 1937 had grown to $20 million, with additional revenue seen from fifteen oil wells on district property. The London School, a large structure of steel and concrete, was constructed in 1932 at a cost of $1 million (roughly $19.9 million today). Its football team, the London Wildcats (a play on the term "wildcatter", for an oil prospector), played in one of the first stadiums in the state to have electric lights.

The London School was built on sloping ground, and a large air space was enclosed beneath the structure. The school board had overridden the original architect's plans for a boiler and steam distribution system, instead opting to install 72 gas heaters throughout the building.