Keppel Falls is a cascading, tiered waterfall on the Taggerty River in Yarra Ranges National Park, near Marysville in Victoria.

The falls tumble over enormous boulders rather than dropping in a single dramatic plunge, and are considered one of the larger and more spectacular cascading waterfalls in the district. They are best viewed in winter and spring.

The falls are named after the brothers who discovered them in the 1880s. Access is via Lady Talbot Drive, with a roughly 2 km return walk from the car park along the river to a viewing platform.

The easy, relatively quiet trail sees fewer visitors than more accessible waterfalls in the region, and the return trip typically takes under an hour.