The Tony Award for Best Performance by a Featured Actor in a Musical is an honor presented at the Tony Awards, a ceremony established in 1947 as the Antoinette Perry Awards for Excellence in Theatre, to actors for quality featured roles in a musical play, whether a new production or a revival. The awards are named after Perry, an American actress who died in 1946.

Honors in several categories are presented at the ceremony annually by the Tony Award Productions, a joint venture of The Broadway League and the American Theatre Wing, to "honor the best performances and stage productions of the previous year."

The award was originally called the Tony Award for Best Performance in a Musical. It was first presented to David Wayne at the 1st Tony Awards for his portrayal of Og in Finian's Rainbow. Before 1956, nominees' names were not made public; the change was made by the awards committee to "have a greater impact on theatregoers". Following the first ceremony, this category was not awarded until 1950 when it was renamed to Best Performance by an Actor in a Featured or Supporting Role in a Musical. It was renamed again to its current title in 1976.

Hinton Battle holds the record for having the most wins in this category, with a total of three. No characters have taken the award multiple times, but Herbie in Gypsy is the most nominated with five.

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