The World's Most Dangerous Party is Paul Shaffer's second album, released as a double CD in July 1993.

Assembled as if Shaffer and his band were playing live at a house party, the album features the contributions of many celebrities and recording artists like David Letterman, Tony Bennett, George Clinton, Joan Jett, Phil Spector, Mike Myers, Dana Carvey, Jon Lovitz, Richard Belzer and Joe Walsh.

As the 'live' music plays, these celebrities are generally heard talking amongst themselves and with Paul, as though amidst happy chattering at a crowded party.

[1] All songs on the album are covers and most are instrumental, similar to the versions played by Shaffer and his band on David Letterman's late night talk shows.

Shaffer's band was billed as "The Party Boys of Rock 'n' Roll", as NBC held a trademark on the moniker "World's Most Dangerous Band".