
<PAGE>
 
                                  EXHIBIT 23
                                  ----------

          We consent to the incorporation by reference in the Registration
Statement (Form S-8 No. 333-33491) pertaining to the Tejon Ranch Company 1992
Stock Option Plan and Registration Statement (Form S-8 No. 333-68869) pertaining
to the Tejon Ranch Company 1998 Stock Incentive Plan and Non-employee Director
Stock Incentive Plan of our report dated March 26, 1999, with respect to the
consolidated financial statements and schedules of Tejon Ranch Company included
in the Form 10-K for the year ended December 31, 1998.



                                      ERNST & YOUNG LLP

Los Angeles, California
March 26, 1999

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