| Honorific-Prefix: | The Right Honourable |
| The Lord Rea | |
| Office1: | Comptroller of the Household |
| Monarch1: | George V |
| Primeminister1: | Ramsay MacDonald |
| Term Start1: | 12 November 1931 |
| Term End1: | 30 September 1932 |
| Predecessor1: | Goronwy Owen |
| Successor1: | George Penny |
| Office2: | Lord Commissioner of the Treasury |
| Monarch2: | George V |
| Primeminister2: | H. H. Asquith |
| Term Start2: | 3 February 1915 |
| Term End2: | 5 December 1916 |
| Predecessor2: | new apappointment |
| Successor2: | John Pratt |
| Office6: | Member of the House of Lords Lord Temporal |
| Term Start6: | 29 January 1937 |
| Term End6: | 26 May 1948 Hereditary peerage |
| Predecessor6: | Peerage created |
| Successor6: | The 2nd Lord Rea |
| Office7: | Member of Parliament for Dewsbury |
| Term Start7: | 27 October 1931 |
| Term End7: | 25 October 1935 |
| Predecessor7: | Benjamin Riley |
| Successor7: | Benjamin Riley |
| Office8: | Member of Parliament for Bradford North |
| Term Start8: | 6 December 1923 |
| Term End8: | 9 October 1924 |
| Predecessor8: | Archibald Boyd-Carpenter |
| Successor8: | Eugene Ramsden |
| Office9: | Member of Parliament for Scarborough |
| Term Start9: | 8 February 1906 |
| Term End9: | 25 November 1918 |
| Predecessor9: | Joseph Compton-Rickett |
| Successor9: | constituency abolished |
| Birth Date: | 18 May 1873 |
| Party: | Liberal |
| Spouse: | Evelyn Jemima |
Walter Russell Rea, 1st Baron Rea (18 May 1873 – 26 May 1948), was a British merchant banker and Liberal politician.
Rea was the son of Russell Rea. He was elected to the House of Commons for Scarborough in 1906, a seat he held until 1918, and served under H. H. Asquith as a Junior Lord of the Treasury from 1915 to 1916.
He later represented Bradford North between 1923 and 1924 and Dewsbury between 1931 and 1935. From 1931 to 1932 he held office in the National Government of Ramsay MacDonald as Comptroller of the Household. Rea was created a Baronet, of Eskdale in the County of Cumberland, in 1935 and in 1937 he was raised to the peerage as Baron Rea, of Eskdale in the County of Cumberland.
Lord Rea married, firstly, Evelyn, daughter of J. J. Muirhead, in 1896. After her death in 1930 he married, secondly, Jemima, daughter of Reverend Alexander Ewing, in 1931. He died in May 1948, aged 75, and was succeeded in his titles by his eldest son from his first marriage, Philip, who became Liberal leader in the House of Lords. His daughter Elisabeth, also from his first marriage, was married to the industrialist Sir Michael Clapham. Lady Rea died in 1964.
| Escutcheon: | Or on a fess wavy Azure between three stags courant Gules a lymphad sails furled of the field. |
| Crest: | A stag at gaze Gules resting the dexter fore-leg on an anchor Or. |
| Supporters: | On either side a stag Gules each charged on the shoulder with a bezant thereon an anchor Azure. |
| Motto: | In Omnia Promptus [1] |