Mahogany (1 October 1990 – 20 November 2021) (Last Tycoon from Alshandegha) was an Australian thoroughbred who raced in the mid-1990s.

As an older horse he usually was restricted to sprint races.

He was owned by businessmen Kerry Packer and Lloyd Williams and trained by Lee Freedman.

Mahogany was awarded Australian Horse of the Year for the 1993-1994 racing season.

The Mahogany Room at Crown Casino was named after him.