María Mercedes "Mechi" Margalot (born June 28, 1975 in Buenos Aires) is an Argentine retired field hockey player, who won the silver medal with the national field hockey team at the 2000 Summer Olympics in Sydney.
Four years later, when Athens, Greece hosted The Games, she won the bronze medal with the Argentine squad. Mercedes also won the bronze medal at the 2008 Summer Olympics in Beijing, the World Cup in 2002, two Champions Trophy (2001, 2008), three medals at the Pan American Games (1999, 2003, 2007) and the Pan American Cup in 2001.
Margalot played club hockey in the Netherlands, first for Oranje Zwart of Eindhoven and then for Push of Breda.