Zhwe (Ꚅ ꚅ; italics: Ꚅ ꚅ) is a letter of the Cyrillic script. The shape of the letter originated as a ligature of the Cyrillic letters Ze (З з; З з) and Zhe (Ж ж; Ж ж).

Zhwe was used in the Abkhaz language where it represented the labialized voiced palato-alveolar sibilant /ʒʷ/. This was replaced by the digraph Жә. There is also a letter called Zhwe with breve. (Ꚅ꙼ ꚅ꙼ italics Ꚅ꙼ ꚅ꙼) This letter was also in the old Abkhaz language, representing the Voiced alveolo-palatal fricative. This was replaced by the digraph Жь.