The Price of Peace (和平的代价) is a Singaporean period drama television series set in Japanese-occupied Singapore during World War II.

The drama has been rerun on MediaCorp Channel 8 several times since its premiere Starting 1 August 2020, it was made available for streaming on Netflix along with over 100 Singaporean films and television series.

On 7 July 1937, the Marco Polo Bridge Incident sparks off the Second Sino-Japanese War as Japan launches a full invasion on China.

Xie Guomin, an anti-Japanese activist, and Zhou Wenlong, the asthmatic son of a tailor, both fall in love with the porridge vendor Wang Qiumei.

After the Japanese occupied Singapore in 1942, the Sook Ching Massacre takes place when thousands of Chinese deemed to be anti-Japanese activists are rounded up and executed.