Karakol (Russian: Каракол; Altay: Кара-Коол, Kara-Kool) is a rural locality (a selo) and the administrative centre of Karakolskoye Rural Settlement, Ongudaysky District, the Altai Republic, Russia.

Karakol is located 17 km northwest of Onguday (the district's administrative centre) by road.

Kurota is the nearest rural locality.

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