| Mahmud Malay: {{Script|Arab|محمود | |
| Al-Muktafi Billah (He who God is Content with) Sultan of Terengganu | |
| Succession: | Sultan of Terengganu |
| Reign: | 21 September 1979 – 14 May 1998 |
| Coronation: | 21 March 1981 |
| Predecessor: | Sultan Ismail Nasiruddin Shah |
| Successor: | Sultan Mizan Zainal Abidin |
| Spouses: | |
| Issue: |
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| Royal House: | Bendahara dynasty |
| Father: | Sultan Ismail Nasiruddin Shah |
| Mother: | Tengku Tengah Zaharah |
| Birth Date: | 29 April 1930 |
| Birth Place: | Kuala Terengganu, Terengganu, Unfederated Malay States |
| Death Place: | Mount Elizabeth Hospital, Newton, Central Area, Singapore |
| Date Of Burial: | 15 May 1998 |
| Place Of Burial: | Royal Mausoleum, Masjid Al-Muktafi Billah Shah |
| Religion: | Sunni Islam |
Sultan Mahmud Al-Muktafi Billah Shah ibni Almarhum Sultan Ismail Nasiruddin Shah (Jawi: سلطان محمود المكتفي بالله شاه ابن المرحوم سلطان إسماعيل ناصر الدين شاه; April 1930 – 14 May 1998) was the 17th Sultan of Terengganu reigning from 21 September 1979 to 14 May 1998.
Sultan Mahmud was born on 29 April 1930 in Kuala Terengganu. He was married polygamously to both Tengku Besar Terengganu Fatimah Sharifah Nong Alsagoff binti Abdillah (1938–2023) and Tengku Ampuan Bariah (1933–2011), sister of Sultan Salahuddin of Selangor.
Mahmud's father Sultan Ismail Nasiruddin died in 1979. He was coronated as the Sultan of Terengganu in 1981 and Tengku Ampuan Bariah became Tengku Ampuan Besar of Terengganu.
Sultan Mahmud was the colonel for the Royal Armoured Corps (KAD) from 1979 until 1998.
He was a close friend of his advisor Tan Sri Wan Mokhtar Ahmad, the Menteri Besar (chief minister) of Terengganu from 1974 to 1999. His main goal was to make Terengganu a developed state. Major state projects and developments under his reign including Petronas Petroleum Complex in Kerteh, Sultan Ismail Power Station at Paka, the largest power station in Malaysia, Kenyir Dam, Sultan Mahmud Bridge, the bridge linking Kuala Terengganu to Pulau Duyong and Kuala Nerus, Wisma Darul Iman and the Tengku Tengah Zaharah Mosque (Floating Mosque).
He performed the hajj pilgrimage with Sultan Salahuddin of Selangor in 1984.
On 14 May 1998, he died in Mount Elizabeth Hospital, Singapore and was replaced by his son Sultan Mizan Zainal Abidin. His body was laid to buried in the new Royal Mausoleum near Al-Muktafi Billah Shah Mosque in Kuala Terengganu. In addition, he was the first sultan of Terengganu to be buried there.
Several projects and institutions were named after the Sultan, including: