Shambhala (Sanskrit: शम्भल, IAST: Śambhala), also spelled Shambala or Shamballa (Tibetan: བདེ་འབྱུང, Wylie: Bde'byung; Chinese: 香巴拉; pinyin: Xiāngbālā), is a spiritual kingdom in Tibetan Buddhist tradition. Shambhala is mentioned in the Kalachakra Tantra. The Bon scriptures speak of a closely related land called Tagzig Olmo Lung Ring.

The Sanskrit name is taken from the name of a city near the Ganges, sometimes identified with Sambhal in the Indian state of Uttar Pradesh, as mentioned in the Hindu Puranas. The mythological relevance of the place originates with a prophecy in Vishnu Purana (4.24) according to which Shambhala will be the birthplace of Kalki, the next incarnation of Vishnu, who will usher in a new age (Satya Yuga); and the prophesied ruling Kingdom of Maitreya, the future Buddha.

Shambhala is ruled by the future Buddha Maitreya. The Shambhala narrative is found in the Kalachakra tantra, a text of the group of the Anuttarayoga Tantras. Kalachakra Buddhism was presumably introduced to Tibet in the 11th century, the epoch of the Tibetan Kalachakra calendar. The oldest known teachers of Kalachakra are Dolpopa Sherab Gyaltsen (d. 1361) and Buton Rinchen Drub (d. 1364).^{[citation needed]}

In the narrative, King Manjuśrīkīrti is said to have been born in 159 BC and ruled over a kingdom of 300,510 followers of the Mlechha religion, some of whom worshiped the Sun. He is said to have expelled 20,000 people from his domain who clung to Surya Samadhi (solar worship) rather than convert to Kalachakra (Wheel of Time) Buddhism. After realizing these were the wisest and best of his people and how much he was in need of them, he later asked them to return and some did. Those who did not return are said to have set up the city of Shambhala. Manjuśrīkīrti initiated the preaching of the Kalachakra teachings in order to try to convert those who returned and were still under his rule. In 59 BC he abdicated his throne to his son, Puṇḍārika, and died soon afterward, entering the Sambhogakaya of Buddhahood.

The Kalachakra tantra prophesies that when the world declines into war and greed, and all is lost, the 25th Kalki king Maitreya will emerge from Shambhala, with a huge army to vanquish Dark Forces and usher in a worldwide Golden Age. This final battle is prophesied for the year 2424 or 2425 (in the 3304th year after the death of the Buddha). Thereafter, Buddhism would survive another 1,800 years.

Tibet and Tibetan Buddhism were largely unknown in the West prior to the beginning of the 20th century. The name itself, however, was reported as early as the 17th century, by way of Estêvão Cacella, the Portuguese missionary who had heard about Shambhala (transcribed as Xembala), and thought it was another name for Cathay or China. Cacella in 1627 headed to Tashilhunpo, the seat of the Panchen Lama and, discovering his mistake, returned to India.

Later esoteric writers further emphasized and elaborated on the concept of a hidden land inhabited by a hidden mystic brotherhood whose members labor for the good of humanity. Alice A. Bailey claims Shamballa (her spelling) is an extra-dimensional or spiritual reality on the astral plane, a spiritual centre where the governing deity of Earth, Sanat Kumara, dwells as the highest Avatar of the Planetary Logos of Earth, and is said to be an expression of the Will of God.^{[better source needed]}

Nicholas and Helena Roerich led a 1924–1928 expedition aimed at Shambhala. They also believed that Belukha Mountain in the Altai Mountains was an entrance to Shambhala, a common belief in that region. They led a second expedition to look for Shambhala in Mongolia between 1934 and 1935.