Federico Martín Elduayén Saldaña (born June 25, 1977) is an Uruguayan football former goalkeeper.
He made his professional debut in 1999, in the Copa Mercosur defending Peñarol against Vasco Da Gama in Brazil.
He was the team's starting goalkeeper until 2005 when he lost his job and moved to Universidad de Concepción in Chile.
The following year Elduayén transferred to O'Higgins where he played for one season, before signing with Unión Española.
Elduayen made one appearance for the Uruguay national football team and was part of the squad for the 2002 FIFA World Cup.