Deerwood is a city in Crow Wing County, Minnesota, United States.

The city was named for the abundant deer in the nearby woods.

There were 319 housing units at an average density of 214.1 per square mile (82.7/km2).

33.6% of all households were made up of individuals, and 19% had someone living alone who was 65 years of age or older.

There were 309 housing units at an average density of 225.8 per square mile (87.2/km2).

37.1% of all households were made up of individuals, and 23.0% had someone living alone who was 65 years of age or older.

The Deerwood Auditorium is a community center built as a Works Progress Administration project.

The auditorium, built in 1935, is listed on the National Register of Historic Places, a rare surviving example of federal relief architecture in Minnesota.