Kholuy (Russian: Хо́луй) is a rural locality (a selo) in Yuzhsky District of Ivanovo Oblast, Russia, situated southwest of Puchezh 71 kilometers (44 mi) from the Shuya railway station.

Its economy is based on textile production, sewing, forestry, woodworking, baked goods, agriculture, and artistic handicrafts.

At least since the 17th century, Kholuy has been a producer of lacquer boxes, plates, and other painted items that this region of Russia is famous for.

However, Kholuy painters kept painting, at this time in secrecy, giving the area a kind of legitimacy in the cultural and artistic world.

The icon-painters in Kholuy use a large amount of green hues, as opposed to the style of using mostly red colors, as is traditional in Palekh.