The Valle Cavanata Nature Reserve (Italian: Riserva Naturale della Valle Cavanata) is a 327-hectare (810-acre) protected area situated in the easternmost part of the Grado Lagoon in Grado, Italy.

Valle Cavanata was historically a fish farming area created in the 1920s, in the eastern part of the lagoon of Grado, that was embanked and provided with adjustable floodgates and thus transformed into a brackish area for fish farming.

The fish farming activities were maintained until 1995; after which, the management of the water levels in the Valle Cavanata has been oriented to favor the bird fauna especially.

The presence of several environments between the sea and the mainland (lagoon, beach, wood, meadow, fishing valley, pond) makes it an ideal place for the permanent habitat of several species of birds, while others spend only the winter here.

Valle Cavanata Reserve has been declared a wetland of international value by the Ramsar Convention, it is a Site of Community Importance (SCI) and a Special Protection Area (SPA).