Horacio Gabriel Carabajal (born 9 December 1990) is an Argentine professional footballer who plays as a midfielder for Cusco FC.

Born in Lozada [es], Province of Córdoba, Carabajal played youth and amateur football for local side Club Atlético Central Río Segundo and Club Mitre de Pérez before receiving an offer from Colombian Categoría Primera B side Patriotas in 2009. He made his senior debut for the club during the season, and scored his first senior goal on 25 March of that year, netting through a penalty in a 3–2 away loss against Atlético Bucaramanga.

Upon returning to Argentina, Carabajal remained four months without a club before going on a trial period at Talleres. He was unable to play for a period, after having troubles with his documentation, and only made his debut for the side on 4 September 2011, in a 3–1 home win over Sportivo Belgrano. He scored his first goal for the side three days later, in a Copa Argentina 4–1 home success over General Paz Juniors.

Carabajal scored his first league goal for Talleres on 11 March 2012, netting his team's second in a 4–1 home routing of Douglas Haig. He was a regular starter in the club's promotion campaign to the Primera B Nacional, being close to a move to Godoy Cruz in July 2013.

On 23 January 2015, Carabajal joined Universidad San Martín of the Peruvian Primera División on loan. His debut for Universidad San Martín occurred on 7 February, in a Torneo del Inca win against Juan Aurich, while his league debut came on 2 May, in a 1–1 away draw against Melgar.

Carabajal left the club in December 2015, after one goal in 30 appearances.

On 3 January 2016, Carabajal moved to Godoy Cruz in the Argentine Primera División on loan for 18 months. He started his career at the club by scoring twice in seven appearances, before being sidelined for two months due to an injury.

On 4 August 2016, Carabajal signed for the club permanently after Fernando Godoy moved in the opposite direction.