Panacea is an unincorporated community and census-designated place (CDP) in Wakulla County, Florida, United States.

The mule drawn and wooden railed Panacea Team brought tourists from Sopchoppy.

[7][8] During the Civil War a large plant here supplied salt for much of western Florida.

[10] As of the 2020 United States census, there were 735 people, 284 households, and 199 families residing in the CDP.

The Wakulla County Airport is located approximately 3 miles (4.8 km) south of Panacea.