Værøy is an island and municipality in Nordland county, Norway. It is part of the traditional district of Lofoten. The administrative centre of the municipality is the village of Sørland. The other village in Værøy is Nordland. Most of the residents live in the Sørland area surrounding the main harbor. The old Værøy Lighthouse sits at the end of that harbor.

The municipality of Værøy was established on 1 January 1838 (see formannskapsdistrikt). On 1 July 1928, the southern district of Værøy (population: 731) was separated to become the new municipality of Røst.

The Old Norse form of the name was Veðrøy. The first element is veðr which means "weather" (here referring to harsh weather and the exposed and unsheltered position of the island). The last element is øy which means "island". Historically, the name has been spelled Værø.

The coat-of-arms is from modern times; they were granted on 10 July 1988. The arms show a puffin on a blue background. Puffins nest in large numbers in the area and used to be of great importance for the village, both for meat and down.

The Church of Norway has one parish (sokn) within the municipality of Værøy. It is part of the Bodø deanery in the Diocese of Sør-Hålogaland.

The island municipality is made up of many islands, the two largest islands being Værøya and Mosken. It is located at the end of the Lofoten archipelago. The Norwegian Sea lies to the northwest and the Vestfjorden lies to the southeast. The Moskenstraumen maelstrom lies to the north between Værøy and Moskenesøya.

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