The Governorate of Paraguay (Spanish: Gobernación del Paraguay), originally called the Governorate of Guayrá, was a governorate of the Spanish Empire and part of the Viceroyalty of Peru.

Its seat was the city of Asunción; its territory roughly encompassed the modern day country of Paraguay.

The Governorate was created on December 16, 1617, by the royal decree of King Philip III as a split of the Governorate of the Río de la Plata and of Paraguay into its respective halves.

The Governorate lasted until 1782, after which the massive Viceroyalty of Peru was split, and Paraguay became an intendency (intendencia) of the new Viceroyalty of the Río de la Plata.

The comuneros established a Junta Gubernativa presided over by: