Nyaung Shwe (Burmese: ညောင်ရွှေမြို့, pronounced: [ɲàʊɴ ʃwè mjo̰]; Shan: ယွင်ႈႁူၺ်ႈ also known as Yawnghwe) is a town a few kilometers north of Inle Lake in the Shan State of Myanmar. It is located south of Sakangyi and southwest of Taunggyi. Bawrithat Pagoda lies in the southern part of the town.

Nyaung Shwe is the tourist hub for visiting Inle Lake. It consists of one main thoroughfare with numerous side streets and a few parallel roads. The main street has numerous shops, several restaurants, a few stupas, travel agencies and a market (located behind the storefronts). Near the end of this road, a bridge crosses the river channel near an impressive mirror-tiled stupa.

The town serves as a marina for the numerous long boats carrying tourists into the lake. The lake itself is located a few kilometers south through a river channel.

Nyaung Shwe can be reached by bus, car, or by plane via the airport in Heho, located about a one-hour drive away.