William Gaston Caperton III (born February 21, 1940) was twice elected as governor of the U.S. state of West Virginia and served from 1989 until 1997. He is currently the president of the College Board, which administers the nationally-recognized SAT and AP tests. He is a member of the Democratic Party.

Caperton was born in Charleston, Kanawha County, West Virginia.

He attended Dexter School (Brookline, Massachusetts), Episcopal High School in Alexandria, Virginia and the University of North Carolina at Chapel Hill, where he was a member of Delta Kappa Epsilon.