Craters of the Moon is a small but highly active geothermal field covering about five hectares, close to State Highway 1 a few kilometres north of Taupo, New Zealand.

There are numerous steam vents, constantly shifting, collapsing and reforming giving the whole area desolate appearance, hence the name.

It is significant from being one of the very few geothermal area in the world that appeared as a result of human actions. There was no geothermal activity in the area until shortly after the building of the Wairakei Geothermal Power Station about 2000 metres north of the field. It is surmised that the drilling of the steam bores and the subsequent release of underground pressure caused sufficient disturbance beneath the earth to allow the steam to escape at the Craters of the Moon.