The reflection of a TM-polarized light beam from a Kretschmann configuration with a saturable gain medium is investigated theoretically. Here, the dielectric constant of the gain medium is described by a classical Lorentzian oscillator model. When surface plasmon polaritons are effectively excited in this structure, it is demonstrated that the curves of enhanced total reflection (ETR) show different shaped hysteresis loops associated with optical bistability owing to gain saturation effect. The effects of the angle of incidence, the thickness of metal film, and the value of small-signal gain on bistable ETR are discussed in detail in a homogeneously broadened (HB) gain medium at line center. Analogous results can also be obtained in an inhomogeneously broadened (inHB) gain medium, while the two switch thresholds and the width of optical bistability hysteresis in an inHB gain medium are significantly different from those in a HB gain medium.