Cascada La Macarena is a waterfall located along Río Pipo within Tierra del Fuego National Park, near Ushuaia, Argentina.

It sits in a scenic valley framed by Cerro Guanaco, Cerro la Portada, and Monte Susana, making it one of the more visually rewarding stops inside the park.

The waterfall is accessible two ways: on foot via hiking trails from the park entrance — roughly 10 kilometers along Route 3 to signed turnoffs — or by riding the historic Tren del Fin del Mundo, which makes a dedicated stop here.

From the train station, visitors can climb to a viewpoint overlooking the Valle del Río Pipo and the surrounding peaks. The site is a popular rest and photography stop for both hikers and train passengers exploring Patagonia's southern wilderness.