Rankin Inlet, which fronts to Hudson Bay, is an Inuit hamlet on the Kudlulik Peninsula in Nunavut, Canada. It is the largest hamlet and second-largest settlement in Nunavut after the territorial capital, Iqaluit. Rankin Inlet is the regional centre for the Kivalliq Region. It is also the largest settlement in mainland Nunavut.

In the 1995 Nunavut capital plebiscite, voters chose Iqaluit over Rankin Inlet to become the territorial capital of Nunavut.

Rankin Inlet is also known in Inuktitut as Inuktitut: Kangiqiniq; Inuktitut syllabics: ᑲᖏᕿᓂᖅ or Kangirliniq, ᑲᖏᖅᖠᓂᖅ,^{[dead link]} or Kangir&iniq meaning deep bay/inlet.

Archaeological sites suggest the area was inhabited around 1200 CE by Thule people who were bowhead whale hunters. By the late 18th century, they were succeeded by Kivallirmiut (Caribou Inuit) who hunted the inland barren-ground caribou, and fished for Arctic char along the coast, as well as the Diane River and Meliadine River. The Hudson's Bay Company (HBC) established itself throughout the bay in the 17th century, and after 1717, sloops from Churchill, Manitoba traded north to Rankin Inlet and beyond. There was an unfortunate expedition shipwrecked on Marble Island, 32 km (20 mi) east of Rankin Inlet: James Knight's expedition died on the island around 1722. It was surveyed by William Moor in 1747. HBC contact was followed in the mid-19th century by American and European whalers, who were followed by fur traders trapping Arctic foxes for their skins in the early 20th century, followed by missionaries who brought a written language system.

The town itself was founded by the owners of the Rankin Inlet Mine, just north of Johnston Cove. Starting in 1957, the mine produced nickel and copper ores from an underground operation. The mine was the first case of Inuit miners in Canada. When the mine closed in 1962, Rankin Inlet had a population of approximately 500 Inuit, and 70-80% had been mine workers. Several unsuccessful attempts followed to develop alternate sources of income for the town. These included a pig ranch in 1969 and a chicken-raising venture in the 1970s. Both animal groups were fed a diet of local fish, which gave the meat an unpleasant flavour. It was also common for the animals to freeze to death or be eaten by polar bears.

The Meliadine Gold Mine operated by Agnico Eagle opened in 2019 and is expected to produce until at least 2032. It is the second mine opened in the low Arctic, after the Meadowbank Gold Mine, and is both an underground and open-pit mine.

From 1985 to 1997, Kivalliq Hall operated as a boarding school for Inuit pupils; it had been recognized as a residential school for the pre-1995 period when it was operated by the Federal government.

Voters chose Iqaluit over Rankin Inlet to become the new territorial capital of Nunavut in the 1995 Nunavut capital plebiscite.