Hugh (1262-1326), son of Hugh le Despenser II, sometimes referred to as "the elder Despenser", was for a time the chief adviser to King Edward II of England.

He was created a baron by writ of summons to Parliament in 1295. He was one of the few barons to remain loyal to Edward during the controversy regarding Piers Gaveston. Despenser became Edward's loyal servant and chief administrator after Gaveston was executed in 1312, but the jealousy of other barons led to his being exiled along with his son in 1321, when Edmund de Woodstoke replaced him as Lord Warden of the Cinque Ports.

Edward found it difficult to manage without them, and recalled them to England a year later, an action which enraged the queen, Isabella, the more so when Despenser was created Earl of Winchester. When Isabella and her lover, Roger Mortimer, led a rebellion against the king, both Despensers were captured and executed. The elder Despenser was hanged at Bristol on October 27, 1326.