The Wakatipu Basin is a plain surrounded by mountains in Central Otago, in the southern South Island of New Zealand.
At the south west corner is found the Queenstown suburb of Frankton and Queenstown Airport. This is where the basin abuts the Frankton arm of Lake Wakatipu. At the northeast corner of the basin is Arrowtown and at the NW corner is Arthur's Point. To the south is found the Remarkables mountain range; to the North is Coronet Peak. The Crown Range forms the eastern boundary of the basin. Located centrally in the basin is Lake Hayes. Much of the basin is drained by the Kawarau River.
The economy of the basin and surrounding areas is largely supported by tourism, though the importance of the vineyards of the Central Otago wine region has increased since the 1990s.