Eddy Merckx (Faema), the previous year's winner returned to defend his crown. He arrived in Italy amid a great season already with victories in the three Monuments Milan–San Remo, Tour of Flanders, and Liège–Bastogne–Liège. Merckx named Felice Gimondi () his top rival for the upcoming race. Both Merckx and 1967 champion Gimondi were viewed as the principal favorites to win the race. Gimondi had won the Tour de Romandie and placed second in the Tour of Flanders. Both riders hoped to achieve the Giro–Tour double, for the first time since Jacques Anquetil achieved it in 1964. Gimondi had previously attempted the feat in 1965 and 1967. Merckx had specifically hoped to ride a conservative race in order to help his chances to complete the double.