Lev Oskarovich Arnshtam (Russian: Лео Оскарович Арншта́м; 15 January 1905 – 26 December 1979) was a Soviet film director and screenwriter.

From 1929 to 1931, Arnshtam helped develop a sound track for Sergei Yutkevich's Golden Mountains, which originally had been conceived as a silent picture; he also contributed to its screenplay.

The film's three heroines grow from poor orphans to Bolshevik fighters who participate in the historical turmoil and defend St. Petersburg against the attacking White Army.

The Soviet-Bulgarian coproduction A Lesson in History (1957) was about the events surrounding the burning of the German Reichstag in 1933 and the subsequent Leipzig trial against Bulgarian Communist leader Georgi Dimitrov.

Five Days, Five Nights (1960), coproduced with East Germany, tells about the dramatic rescue of artwork from the Dresden Gallery by Soviet soldiers in 1945.