Chrysalis Records (/ˈkrɪsəlɪs/) is a British independent record label that was founded in 1968. The name is both a reference to the pupal stage of a butterfly and a combination of its founders' names, Chris Wright and Terry Ellis. It started as the Ellis-Wright Agency.

Chrysalis entered into a licensing deal with Chris Blackwell's Island Records for distribution, based on the success of bands such as Jethro Tull, Ten Years After, and Procol Harum, which were promoted by the label. Jethro Tull signed with Reprise Records in the United States, which led Chrysalis to an American distribution deal with Reprise's parent company, Warner Bros. Records. This lasted from 1972 until U.S. Chrysalis switched to independent distribution in 1976. PolyGram handled international distribution and Festival Records covered Australia and New Zealand. In 1973, it signed British rock band UFO. Towards the end of the 1970s, the label began to extend its range of music, incorporating acts from the punk rock scene such as Generation X. The Chrysalis offshoot 2 Tone Records brought in bands such as the Specials and the Selecter.

In 1979, Chrysalis bought and distributed U.S. folk label Takoma Records, naming manager/producer Denny Bruce as president, who signed the Fabulous Thunderbirds and T-Bone Burnett. Jon Monday, who was vice president of Takoma Records prior to the acquisition, continued as general manager, later becoming director of marketing of Chrysalis Records.

In the 1980s, Chrysalis was at the forefront of the British new romantic movement with bands such as Gen X, Ultravox, and Spandau Ballet. The 1980s proved to be the most successful time for the label, whose roster then included Billy Idol, Pat Benatar, Blondie, and Huey Lewis and the News. Chrysalis also distributed Animal Records, the short-lived label founded by Blondie guitarist Chris Stein. In 1983, after the label re-established itself in New York, Eric Heckman, formerly of Atlantic and Epic Records promotion, took over as senior director of promotion and marketing. Also in 1983, Daniel Glass moved to Chrysalis as director of new music marketing, advancing later to senior vice president. During the next two years, Chrysalis broke Huey Lewis and the News, Billy Idol, and Spandau Ballet in the United States, whilst Pat Benatar continued to find success on both the traditional and dance music charts.

In 1984, Chrysalis bought Ensign Records, a record label Nigel Grainge started in 1976 (with the label's name coming from the idea that 'N. signs' as in 'Nigel Signs'). Ensign Records would go on to have The Waterboys, World Party, and Sinéad O'Connor on its roster in the late 1980s. Ensign joined TV marketing/compilations company Dover Records and dance label Cooltempo as part of the Chrysalis family, with Grainge staying on to run the label that he founded.

In 1989, 50% of the Chrysalis Records label was sold, then the remaining half in 1991 to Thorn EMI, with the Chrysalis Group (primarily a music publisher with other interests in radio and television production) setting up new indie labels such as Echo and Papillon in the mid-1990s. Chrysalis Records was folded into EMI subsidiary and flagship label EMI Records in 2005, with catalogue and artists such as Starsailor being shifted to EMI's main imprints. In 2010, BMG Rights Management bought Chrysalis Music's assets (the publishing division and The Echo Label),.

In September 2012, after acquiring EMI's record labels, Universal Music Group offered to divest several record labels, including EMI's Chrysalis and Parlophone, to meet the European Commission's demands. The deal did not include Chrysalis' North American catalogue (which was folded into Capitol Records in 2007) or Robbie Williams (who was transferred to Island Records).

In February 2013, Warner Music Group announced that it would acquire many of EMI's European record labels, including Chrysalis and Parlophone, for £487 million. In July 2013, WMG completed its purchase of the Parlophone Label Group.