The Latter Deposed Emperor of Liu Song ((劉)宋後廢帝, also known as Emperor Houfei) (463–477), also known by posthumous demoted title of Prince of Cangwu (蒼梧王), personal name Liu Yu (劉昱), courtesy name Derong (德融), nickname Huizhen (慧震), was an emperor of the Chinese dynasty Liu Song.

During his brief reign as a boy emperor, he showed a knack for violence and arbitrariness, and in 477 he was killed by his general Xiao Daocheng, who made Emperor Houfei's brother Liu Zhun emperor but seized the throne in 479, ending Liu Song and starting Southern Qi.

Liu Yu was born in 463, when his father Liu Yu (different character) was the Prince of Xiangdong under his uncle Emperor Xiaowu. He was the oldest son of the Prince of Xiangdong, and his mother was the concubine Chen Miaodeng. (The Prince of Xiangdong had earlier disfavored Lady Chen and given her to his attendant Li Dao'er (李道兒) and then taken her back, and therefore there was constant rumor that his son's biological father was actually Li, not he.) His courtesy name of Huizhen came from the I Ching, which the Prince of Xiangdong used extensively for divination.

After the Prince of Xiangdong became emperor (as Emperor Ming) after the assassination of his nephew Emperor Qianfei (Emperor Xiaowu's son) in 465, he created Liu Yu crown prince in 466 (although the name "Yu" was not actually settled on until 467). As the Crown Prince grew, he was known as an overly active child who liked carrying out dangerous tasks, such as climbing flag poles, and he had severe mood swings and was so impulsive that his attendants could not stop him from taking violent actions. Emperor Ming often had his mother Consort Chen beat him as punishment. In 470, Emperor Ming set up a separate household for the Crown Prince, as per tradition for crown princes.

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