HDMS Kronprindsens Lystfregat (literally, "the crown prince's pleasure frigate") was a yacht launched in Britain in 1785.

After their victory, the British seized or burnt most of the Danish fleet, but made a conscious and conspicuous exception of Kronprindsens Lystfregat.

In a gesture of contempt, the Danes crewed her with a contingent of 17 captured British sailors, placing one of them in command and sent her back to Britain.

Captain William Anderson, late of Hope, of Dundee, sailed the yacht Prince Frederick back to England.

The Admiralty put her and her predecessor, also named Princess Augusta, up for sale and sold her to Thomas Pittman on 13 August 1818 for £500.