Cheap is a small ward in the City of London, England.

It stretches west to east from King Edward Street, the border with Farringdon Within ward, to Old Jewry, which adjoins Walbrook; and north to south from Gresham Street, the border with Aldersgate and Bassishaw wards, to Cheapside, the boundary with Cordwainer and Bread Street wards.

Several Livery Halls are located in Cheap, including those of the Mercers', Goldsmiths', Wax Chandlers' and Saddlers' Companies.

Also within Cheap are the Lord Mayor's and City of London Court and the southern end of Basinghall Street.

The ward is currently represented by Alderman Robert Hughes-Penney[7] as well as three Common Councilmen.