The Peene Valley (German: Peenetal) is a landscape in West Pomerania in the German state of Mecklenburg-Vorpommern. It covers the area on either side of the river Peene in the districts of Mecklenburgische Seenplatte and Vorpommern-Greifswald as the river makes its way from Lake Kummerow past the towns of Dargun, Demmin, Loitz, Jarmen, Gützkow and Anklam to its mouth on the Peenestrom.
The landscape of the Peene Valley has been little impacted by industry and other human activities and has a large variety of animal and plant species. It is therefore a nature area of statewide importance and much of the region is subject to nature and landscape conservation measures. It has a core zone of about 20,000 hectares and a total area of about 45,000 hectares and is thus the largest contiguous fen region of Europe.
Thanks to its wilderness and intact nature, the river Peene and its valley is often referred to as "the Amazon of the North".