Borgarey (Icelandic pronunciation: [ˈpɔrkarˌeiː] ⓘ) is a small, uninhabited island in the Westfjords in the north-west of Iceland.

It is the innermost and smallest island of Ísafjarðardjúp, smaller than both Æðey and Vigur.

Human settlement is limited, inter alia, by the lack of fresh water.

The -ey signifies a small island, while -Borgar is the genitive singular of Borg (cognate to Burg etc.)

(Medieval forts tended to be built on hills.)