The Olyutor Bay (Russian: Олюторский залив) is a gulf or bay of the Bering Sea in Olyutorsky District, northern part of Kamchatka Krai, Russia.

[1] It is bounded on the west by the Govena Peninsula which separates it from Korfa Bay and on the east by the Olyutor Peninsula, the southern part of the Olyutor Range.

Beyond Cape Olyutor lies the Bering Sea.

The western shore is dominated by the Pylgin Range, which has a maximum elevation of 1,357 metres (4,452 ft).

The bay is normally covered by fast ice from December to May.