The 2020–21 Wake Forest Demon Deacons women's basketball team represented Wake Forest University during the 2020–21 NCAA Division I women's basketball season.

The Demon Deacons, were led by ninth year head coach Jen Hoover, are members of the Atlantic Coast Conference and played their home games at the Lawrence Joel Veterans Memorial Coliseum.

As the ninth seed in the ACC tournament, they defeated North Carolina in the Second Round before losing to Louisville in the Quarterfinals.

They received an at-large bid to the NCAA tournament as the nine seed in the Alamo Region.

As the thirteenth seed in the ACC tournament, they defeated North Carolina in the First Round and Virginia Tech in the Second Round before losing to Florida State in the Quarterfinals.