Ladybower Reservoir is a large Y-shaped reservoir, the lowest of three in the Upper Derwent Valley in Derbyshire, England. The River Ashop flows into the reservoir from the west; the River Derwent flows south, initially through Howden Reservoir, then Derwent Reservoir, and finally through Ladybower Reservoir.

The area is now a popular tourist location, with the Fairholmes visitors' centre located at the northern tip of Ladybower.