| Type: | town |
| Underbool | |
| State: | vic |
| Lga: | Rural City of Mildura |
| Postcode: | 3509 |
| Pop: | 216 |
| Elevation: | 91 |
| Use Lga Map: | yes |
| Coordinates: | -35.1667°N 141.8167°W |
| Stategov: | Mildura |
| Fedgov: | Mallee |
| Dist1: | 476 |
| Location1: | Melbourne |
| Dist2: | 154 |
| Location2: | Mildura[1] |
| Near-Nw: | Murray-Sunset |
| Near-N: | Murray-Sunset |
| Near-Ne: | Torrita |
| Near-W: | Linga |
| Near-E: | Torrita |
| Near-Sw: | Big Desert |
| Near-S: | Big Desert |
| Near-Se: | Big Desert |
Underbool is a town in the Mallee region of north-west Victoria, Australia. The town is in the Rural City of Mildura local government area and on the Mallee Highway—between Ouyen and the South Australian border - north west of the state capital, Melbourne. The town services the grain farmers and graziers in the area. For tourists it provides access to the Pink Lakes in Murray-Sunset National Park.
The town name is thought to come from the German word underbolt given to it by surveyor Dr. Neumayer when he camped there in October 1861.
A post office opened on 15 July 1912 when a regular mail service was provided by the opening of the railway from Ouyen to Murrayville a month earlier.
Underbool Primary School (No. 3819) opened on 5 November 1913, with a purpose-built school building opening in June 1919. A second weatherboard building was built in 1929, and the former Daalko school building moved there in 1967.[2]
With its neighbouring township Walpeup Underbool had a football team (Walpeup-Underbool) in the Mallee Football League until the league folded in 2015. The team merged with Ouyen and play two matches a season in Underbool in the Sunraysia Football League. Golfers play at the course of the Underbool Golf Club on Monash Avenue.