| Donaldo Arza | |
| Nationality: | Panamanian |
| Sport: | Middle-distance running |
| Event: | 800 metres |
| Birth Date: | 15 August 1946 |
Donaldo Arza (born 15 August 1946) is a Panamanian middle-distance runner who has represented his country in international competitions. He competed in the men's 800 metres at the 1972 Summer Olympics. Arza finished fourth in the 1500 metres at the 1971 Pan American Games.[1]