Walter Raymond Osterkorn (July 6, 1928 – January 11, 2012) was an American professional basketball player.

A 6'5" forward from the University of Illinois, Osterkorn began his pro career with the St. Paul Lights of the National Professional Basketball League during the 1950–51 season.

Osterkorn played the final 19 games for Sheboygan and helped the Red Skins to a league-best 29–16 record.

He was named to the NPBL's second team as a forward after averaging 13 points per game, sixth-best in the league.

This biographical article relating to a United States basketball player, coach, or other figure born in the 1920s is a stub.