Wallace F. Bennett (1898-1993) was a businessman who later served as a U.S. Senator representing Utah.

Wallace Foster Bennett was born November 13, 1898, to John Foster and Rosa Elizabeth Wallace Bennett in Salt Lake City, Utah. After graduating from LDS High School in 1916, Bennett enrolled at the University of Utah, where he majored in English. He interrupted his studied to serve in the United States Army in 1918. Following his service in the army, Bennett returned to the University of Utah and graduated with his Bachelor of Arts degree in 1919. After his graduation, Bennett served as the principal of San Luis Stake Academy in Manassa, Colorado for a year. In 1922, he married Frances Marion Grant, daughter of Heber J. Grant, one of the presidents of the LDS church. They had five children: Wallace, David, Robert, Rosemary, and Frances. In 1920, Bennett joined Bennett's Paint and Glass Company, which was established by his father. He eventually became president and general manager, and later chairman of the board, of the company. Bennett went on to become president of the Bennett Motor Company, the Cardon Jewelry Company, the National Glass Distributors Association, and the National Association of Manufacturers. He also served as vice-president of two companies and director of three additional companies, hosted a daily radio program, and authored the words for an LDS hymn ("God of Power, God of Right," #20 in the 1985 LDS Hymnal) and two books. In 1950, Bennett ran against an incumbent senator for a seat in the U.S. Senate. He won and was re-elected to three more terms, serving until 1974.

Bennett passed away on December 19, 1993, in Salt Lake City.