-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RP/pPmADvhqWGESr/UuPJNrUBetcf3Nh8RIsxsW42Vy5KpcuROddqFP9kTvKISYl
 m2ox0kKxNVKQWWOBGXwHnQ==

<SEC-DOCUMENT>0001179110-08-017415.txt : 20080930
<SEC-HEADER>0001179110-08-017415.hdr.sgml : 20080930
<ACCEPTANCE-DATETIME>20080930110703
ACCESSION NUMBER:		0001179110-08-017415
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080926
FILED AS OF DATE:		20080930
DATE AS OF CHANGE:		20080930

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CANTERBURY PARK HOLDING CORP
		CENTRAL INDEX KEY:			0000926761
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-RACING, INCLUDING TRACK OPERATION [7948]
		IRS NUMBER:				411775532
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1100 CANTERBURY DR
		CITY:			SHAKOPEE
		STATE:			MN
		ZIP:			55379
		BUSINESS PHONE:		6124457223

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dahlberg Burton F
		CENTRAL INDEX KEY:			0001293354

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31569
		FILM NUMBER:		081096412

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		952-445-7223

	MAIL ADDRESS:	
		STREET 1:		1100 CANTERBURY ROAD
		CITY:			SHAKOPEE
		STATE:			MN
		ZIP:			55379
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000926761</issuerCik>
        <issuerName>CANTERBURY PARK HOLDING CORP</issuerName>
        <issuerTradingSymbol>ECP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001293354</rptOwnerCik>
            <rptOwnerName>Dahlberg Burton F</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1100 CANTERBURY ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SHAKOPEE</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55379</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>432</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4804</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 1,268 shares of common stock held jointly with spouse.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Burton F Dahlberg</signatureName>
        <signatureDate>2008-09-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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