Donald Stovel Macdonald (born March 1, 1932) is a former Canadian Liberal politician and Cabinet minister. Macdonald was first elected to the Canadian House of Commons in the 1962 Canadian election as the Liberal Member of Parliament for Rosedale. He joined the Cabinet of Pierre Trudeau in 1968 as minister without portfolio and subsequently served as President of the Privy Council, Minister of National Defence, Minister of Energy, Mines and Resources and Minister of Finance. As Finance Minister, Macdonald introduced wage and price controls in an attempt to control inflation.

Macdonald resigned from Cabinet in 1977 to return to his law practice. When Pierre Trudeau announced his resignation as leader of the Liberal Party of Canada following his defeat in the 1979 Canadian election, Maconald declared his candidacy for the position but the defeat of Joe Clark's government on a motion of no confidence forced the Liberals to ask Trudeau to lead them into the 1980 Canadian election and cancelled the leadership campaign. Macdonald was not a candidate for the party leadership when Trudeau again resigned in 1984.

In 1982, Prime Minister Trudeau appointed Macdonald chairman of a Royal Commission on the Economic Union and Development Prospects for Canada. The report was released in September 1985 and recommended that Canada enter a free trade agreement with the United States. Brian Mulroney was Prime Minister by this time and he wholeheartedly accepted the recommendation and persued what became the Canada-US Free Trade Agreement. Macdonald was appointed high commissioner to the United Kingdom in 1988 and held that position until 1991 when he returned to his law practice in Toronto. In 1994 he was made a Companion of the Order of Canada.