The 42nd General Assembly of Prince Edward Island was in session from March 2, 1932, to June 15, 1935. The Conservative Party led by James David Stewart formed the government. William J. P. MacMillan became Premier and party leader following Stewart's death in 1933.
Augustine A. MacDonald was elected speaker. Heath Strong became speaker in 1934.
There were four sessions of the 42nd General Assembly:
| Session | Start | End |
|---|---|---|
| 1st | March 2, 1932 | April 2, 1932 |
| 2nd | March 5, 1933 | April 6, 1933 |
| 3rd | March 6, 1934 | April 5, 1934 |
| 4th | March 5, 1935 | April 4, 1935 |