Laguna Colorada (Red Lagoon) is a shallow salt lake in the southwest of the altiplano of Bolivia, within Eduardo Avaroa Andean Fauna National Reserve and close to the border with Chile. Maximum length, width and depth of Laguna Colorado are 10.7, 9.6 and 1.5 Km respectively. Its geographical coordination is 22°11′55″S, 67°46′52″W.

The lake contains borax islands, whose white color contrasts nicely with the reddish color of its waters, which is caused by red sediments and pigmentation of some algae.

Laguna Colorada is one of the Ramsar Wetlands of International Importance under the Ramsar Convention signed in 1971. James's Flamingos abound in the area. Also it is possible to find Andean and Chilean flamingos, but in a minor quantity.