Otto, Lord of Lippe (c. 1300 – c. 1360) was the ruling Count of Lippe-Lemgo from 1344 until his death.

He was the son of Simon I and his wife, Adelaide of Waldeck.

When his father died in 1344, Lippe was divided; Otto ruled the area around Lemgo, while his brother Bernard V ruled the area around Rheda.

In 1365, five years after Otto's death, these were amalgamated to form the Town of Lemgo.

Otto was married to Irmgard of the Marck, daughter of Engelbert II of the Mark.