EXHIBIT 23


     We consent to the incorporation by reference in the
Registration Statement (Form S-8 No. 333-33491) pertaining to the
Tejon Ranch Company 1992 Stock Option Plan of our report dated
March 27, 1998, with respect to the consolidated financial
statements and schedules of Tejon Ranch Company included in the
Form 10-K for the year ended December 31, 1997.



                                        /s/ ERNST & YOUNG LLP


Los Angeles, California
March 27, 1998