Yosemite Valley (Yosemite, Miwok for "killer") is a census-designated place (CDP) in Mariposa County, California, United States. It consists of Yosemite Village, the main developed area, together with adjacent areas of the Yosemite Valley within Yosemite National Park. The population was 337 at the 2020 census.

Situated along the north side of the valley floor, its permanent population includes staff of the National Park Service, which administers the park, and some concession workers associated with various contracts in the park.

The village has some public facilities, such as a fire station, a post office (ZIP Code 95389), a medical clinic, a convenience store, restaurants, gift shops, and a school (kindergarten through eighth grade). The park's headquarters facilities and its main visitor center are also located here.

The Yosemite Valley Lodge is located at the west end of the village near Yosemite Falls. The Ahwahnee Hotel is a few blocks to the north. Curry Village provides tent cabins and other lodging at the east end of the valley. All three are operated by concessionaires under contract to the National Park Service. The architecture of Yosemite Village is characterized by shed style and makes extensive use of native woods. The earliest 20th-century buildings were designed by landscape architect Charles Punchard Jr., among others in the National Park Service.

The Ahwahneechee, a band of the Southern Sierra Miwok, inhabited the valley for centuries before European contact. A village called Hok-ok'-wi-dok (alternatively Hokokwito or Hococwedoc) was located opposite Yosemite Falls, at the site later occupied by the Hutchings Hotel in Yosemite Village.

In 1855, James Mason Hutchings organized the first recreational visit to Yosemite Valley and published accounts that drew national attention to the area. In 1857, Gustavus Adolphus Hite filed a pre-emption claim in central Yosemite Valley; the following year he built a two-story hotel that was the first permanent structure in the area that became Yosemite Village. In 1864, Hutchings purchased Hite's claim and took over operation of the hotel.

That same year, Congress passed the Yosemite Grant Act, granting the valley and the Mariposa Grove of giant sequoias to the state of California to be held as public trust — an early model for what would become the national park system. The first US post office opened in 1869, originally named "Yo Semite"; the spelling was changed to "Yosemite" in 1908 and to "Yosemite National Park" in 1922. Yosemite National Park was established by Congress in 1890, reclaiming the valley from state management.

In 1906, Major H.C. Benson was commanded to build and garrison Fort Yosemite in the valley. US Army troops were stationed there until 1916, when the National Park Service was established to administer Yosemite and other national parks. Early NPS development of Yosemite Village employed the National Park Service rustic architectural style; landscape architect Charles Punchard Jr. was among the first NPS designers to shape the village's character in the late 1910s.