Round Valley is a census-designated place (CDP) in Apache County, Arizona, United States.

[3] The CDP is located in northern Gila County, just south of the town of Payson.

Arizona State Route 87, the Beeline Highway, forms the western edge of the CDP and runs north 3 miles (5 km) to the center of Payson.

According to the United States Census Bureau, the Round Valley CDP has a total area of 4.8 square miles (12.4 km2), all land.

His wife, Ruth, sold the ranch at Round Valley to Bill and Harvey Colcord in 1904.