- February 19 - President Estigarribia dissolves the legislature and suspends the Constitution
- August 4 - Paraguayan constitutional referendum, 1940
- September 7 - President Estigarribia and his wife are killed in a plane crash in Agapuey while on a tour of the interior.
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. (June 2014)
- September 7 - Jose Felix Estigarribia, general and President, plane crash
- ^ "Dictatorship in Paraguay," Oakland Tribune, February 19, 1940, p. 1
- ^ "Dictator of Paraguay is Killed in Airplane Crash," Oakland Tribune, September 8, 1940, p. 1