| Embalse | |
| Native Name Lang: | es |
| Settlement Type: | Town |
| Pushpin Map: | Argentina Córdoba Province#Argentina |
| Pushpin Map Caption: | Location of Embalse in Argentina |
| Coordinates: | -32.1833°N -89°W |
| Subdivision Type: | Country |
| Subdivision Name: |  Argentina |
| Subdivision Type1: | Province |
| Subdivision Type2: | Department |
| Subdivision Name2: | Calamuchita |
| Leader Party: | Unión por Córdoba |
| Leader Title: | Mayor |
| Leader Name: | Federico Alesandri |
| Unit Pref: | Metric |
| Elevation M: | 623 |
| Population Total: | 8793 |
| Population As Of: | 2010 census |
| Population Density Km2: | auto |
| Timezone1: | ART |
| Utc Offset1: | -3 |
| Postal Code Type: | CPA base |
| Postal Code: | X5856 |
| Area Code Type: | Dialing code |
| Area Code: | +54 3571 |
Embalse is a city in the center-west of the province of Córdoba, Argentina, located within the Calamuchita Valley, 119 km south-southwest from Córdoba City. The municipality has 15,000 inhabitants as per the, though unofficial counts including the neighboring areas give a population of over 30,000, which grows by several thousands during the tourist high season.
The word embalse means "reservoir" (i. e. artificial lake) in Spanish. Embalse is located along the eastern shore of a large reservoir produced by the damming of the Río Tercero. The dam was inaugurated in 1930; it is 58 m high and 125 m long, with a maximum capacity of 730 million m³. The reservoir has an area of 58 km² and is employed for fishing, irrigation and the production of hydroelectricity, as well as water sports. On the southern shore lies the Embalse nuclear power plant, one of the two operational nuclear plants of Argentina (the other is Atucha I).
The area is of major touristic importance. Accordingly, Embalse has 7 hotels and many smaller accommodation facilities, and a casino (opened in 1984).