Duchess Marie Elisabeth of Saxony (22 November 1610 – 24 October 1684) was a duchess consort of Holstein-Gottorp as the spouse of Duke Frederick III of Holstein-Gottorp.

She was a daughter of John George I, Elector of Saxony and his spouse, Princess Magdalene Sibylle of Prussia.

In her dowry, she brought paintings by Lucas Cranach the Elder.

Her household at Husum became renowned as a culture center, and she herself a noted patron.

Marie Elisabeth was married on 21 February 1630 to Duke Friedrich III of Holstein-Gottorp and gave birth to sixteen children in just over eighteen years, ten of whom lived to adulthood: Via her daughters Augusta Marie and Magdalene Sibylle, Marie Elisabeth is the most recent common matrilineal ancestor of Queen Victoria of the United Kingdom and Catherine the Great of Russia.