| Native Name: | Gobernación del Paraguay |
| Conventional Long Name: | Governorate of Paraguay |
| Common Name: | Paraguay |
| Status: | Governorate |
| Empire: | Spain |
| Status Text: | Governorate of the Viceroyalty of Peru Part of the Spanish Empire |
| Religion: | Roman Catholic |
| Era: | Spanish Empire |
| Date Start: | December 16 |
| Year Start: | 1617 |
| Year End: | 1782 |
| Event Start: | Created from the split of the Governorate of the Río de la Plata and of Paraguay |
| Event End: | Added to the new Viceroyalty of the Río de la Plata |
| P1: | Governorate of the Río de la Plata |
| Flag P1: | Flag of Cross of Burgundy.svg |
| S1: | Intendency of Paraguay |
| Flag S1: | Flag of Spain (1785-1873 and 1875-1931).svg |
| Flag: | Cross of Burgundy Flag |
| Flag Type: | Cross of Burgundy (Flag of the Viceroyalty of Peru) |
| Capital: | Asunción |
| Common Languages: | Spanish, Guaraní |
The Governorate of Paraguay (Spanish; Castilian: Gobernación del Paraguay), originally called the Governorate of Guayrá, was a governorate of the Spanish Empire and part of the Viceroyalty of Peru. Its seat was the city of Asunción; its territory roughly encompassed the modern day country of Paraguay.
The Governorate was created on December 16, 1617, by the royal decree of King Philip III as a split of the Governorate of the Río de la Plata and of Paraguay into its respective halves. The Governorate lasted until 1782, after which the massive Viceroyalty of Peru was split, and Paraguay became an intendency (intendencia) of the new Viceroyalty of the Río de la Plata.
| Hernando Arias de Saavedra | 1615 | 1617 | Philip III |
| 1618 | 1621 | ||
| 21 October 1621 | 1627 | Philip IV | |
| 1630 | 1633 | ||
| 1633 | 1636 | ||
| 1636 | 1641 | ||
| Juan de Velasco Villasanti | 1641 | 27 June 1641 | |
| Gregorio de Hinestrosa | 27 June 1641 | 2 February 1647 | |
| Diego de Escobar y Osorio | 2 February 1647 | 26 February 1649 | |
| Bernardino de Cárdenas | 4 March 1649 | 1 October 1649 | |
| 1 October 1649 | 10 October 1650 | ||
| 10 October 1650 | 26 July 1653 | ||
| 26 July 1653 | 21 September 1656 | ||
| 21 September 1656 | 24 September 1659 | ||
| 24 September 1659 | 25 August 1662 | ||
| 25 August 1662 | 13 April 1671 | ||
| Charles II | |||
| 13 April 1671 | 1676 | ||
| 1676 | 1681 | ||
| 7 October 1681 | August 1684 | ||
| 18 October 1684 | 30 October 1684 | ||
| Alonso Fernández Montiel | 30 October 1684 | 30 October 1685 | |
| 30 October 1685 | 2 August 1691 | ||
| 22 October 1692 | 4 December 1696 | ||
| 4 December 1696 | 27 June 1702 | ||
| Philip V | |||
| 27 June 1702 | 1705 | ||
| 1705 | 26 September 1705 | ||
| 26 September 1705 | 9 February 1706 | ||
| Baltazar García Ros | 9 February 1706 | 10 October 1707 | |
| 10 October 1707 | 5 June 1713 | ||
| 5 June 1713 | 23 January 1717 | ||
| 23 January 1717 | 5 February 1717 | ||
| Diego de los Reyes Balmaseda | 5 February 1717 | 20 August 1721 | |
| José de Antequera y Castro | 14 September 1721 | 5 March 1725 | |
| Ramón de las Llanas | 5 March 1725 | 29 April 1725 | |
| Bruno Mauricio de Zabala | 29 April 1725 | 4 May 1725 | |
| Martín de Barúa | 4 May 1725 | 28 December 1730 | |
| Ignacio de Soroeta | 28 December 1730 | 25 January 1731 | |
| 25 January 1731 | 27 July 1733 | ||
| Agustín de Ruyloba | 27 July 1733 | 14 September 1733 | |
| Juan de Arregui y Gutiérrez | 27 September 1733 | 9 December 1733 | |
| 9 December 1733 | 1735 | ||
| Bruno Mauricio de Zabala | 30 March 1735 | 1735 | |
| 1735 | 7 November 1740 | ||
| 7 November 1740 | August 1747 | ||
| Ferdinand VI | |||
| August 1747 | 10 November 1749 | ||
| 10 November 1749 | 2 April 1761 | ||
| Charles III | |||
| 2 April 1761 | 23 July 1764 | ||
| 23 July 1764 | 29 September 1766 | ||
| Carlos Morphi | 29 September 1766 | 23 August 1772 | |
| 23 August 1772 | 1 February 1778 | ||
| Pedro Melo de Portugal | 1 February 1778 | 21 August 1787 | |