Margaret Elisabeth of Leiningen-Westerburg (30 June 1604 in Schadeck, today part of Runkel – 13 August 1667 at Wiesenburg Castle), was a Countess of Leiningen and regent of the Landgraviate of Hesse-Homburg during the minority of her sons from 1638.
Margaret Elizabeth was the only child from the first marriage of Count Christopher of Leiningen-Westerburg (1575-1635) and Anna Maria Ungnad, Baroness of Weissenwolff (1573-1606).
She married on 10 August 1622 at Butzbach to Landgrave Frederick I of Hesse-Homburg.
After Margaret Elizabeth had given birth to her second son, primogeniture was introduced in the landgraviate.
Her youngest son was Frederick II of Hesse-Homburg, the famous Prince of Homburg.