<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/thirteenffiler eis_13F_Filer.xsd" xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:ns1="http://www.sec.gov/edgar/common" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <schemaVersion>X0202</schemaVersion>
  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
      </flags>
      <filer>
        <credentials>
          <cik>0001529389</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>03-31-2026</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>03-31-2026</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>Cambria Investment Management, L.P.</name>
        <address>
          <ns1:street1>3300 HIGHLAND AVE</ns1:street1>
          <ns1:city>Manhattan Beach</ns1:city>
          <ns1:stateOrCountry>CA</ns1:stateOrCountry>
          <ns1:zipCode>90266</ns1:zipCode>
        </address>
      </filingManager>
      <reportType>13F COMBINATION REPORT</reportType>
      <form13FFileNumber>028-17008</form13FFileNumber>
      <crdNumber>000141600</crdNumber>
      <secFileNumber>801-71786</secFileNumber>
      <otherManagersInfo>
        <otherManager>
          <cik>0001592828</cik>
          <form13FFileNumber>028-17729</form13FFileNumber>
          <name>Empowered Funds, LLC</name>
        </otherManager>
      </otherManagersInfo>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>Jonathan Keetz</name>
      <title>Chief Operating Officer</title>
      <phone>310-683-5500</phone>
      <signature>/s/ Jonathan Keetz</signature>
      <city>Manhattan Beach</city>
      <stateOrCountry>CA</stateOrCountry>
      <signatureDate>05-14-2026</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>2</otherIncludedManagersCount>
      <tableEntryTotal>682</tableEntryTotal>
      <tableValueTotal>1790491768</tableValueTotal>
      <otherManagers2Info>
        <otherManager2>
          <sequenceNumber>1</sequenceNumber>
          <otherManager>
            <cik>0001600064</cik>
            <form13FFileNumber>028-19397</form13FFileNumber>
            <crdNumber>000164201</crdNumber>
            <secFileNumber>801-76857</secFileNumber>
            <name>Tidal Investments LLC</name>
          </otherManager>
        </otherManager2>
        <otherManager2>
          <sequenceNumber>2</sequenceNumber>
          <otherManager>
            <cik>0001592828</cik>
            <form13FFileNumber>028-17729</form13FFileNumber>
            <name>Empowered Funds, LLC</name>
          </otherManager>
        </otherManager2>
      </otherManagers2Info>
    </summaryPage>
  </formData>
</edgarSubmission>
