Walter Magnifico (born June 18, 1961 in San Severo, Italy) is a former Italian professional basketball player and coach.

At a height of 2.09 m (6'10 1⁄4") tall, he played at the power forward and center positions.

After playing with the junior teams of Cestistica San Severo, Magnifico spent most of his pro career with VL Pesaro, thus becoming one of the club's emblems.

He also won a third Italian Cup, after his transfer to Virtus Bologna, in 1997.

Magnifico was a regular member of the senior Italian national team.