The Palestra is a legendary arena at the University of Pennsylvania in Philadelphia, Pennsylvania. It is home to the men's and women's basketball teams as well as the volleyball and wrestling teams at Penn. The building was completed in 1927, and named after the ancient Greek term Palaestra, which was a site for instruction in wrestling. It was one of the first modern steel and concrete arenas in the country, and also one of the first to be constructed without interior pillars blocking the view - not to mention one of the largest in the world at the time it was constructed.

For many years the building shared the same management as Madison Square Garden in New York City, and teams wishing to play there were often required also to schedule a game in Philadelphia at the Palestra. This led to Philadelphia hosting a number of very high level sporting events that it might otherwise not have. Many professional games were played at the Palestra prior to the completion of the Spectrum.

No arena has hosted more regular season or post-season NCAA men's basketball games than the Palestra. Today, the arena seats about 9,000.