Graciosa Island or commonly La Graciosa (pronounced: [la ɣɾaˈθjosa]; Spanish for funny, amusing) is a volcanic island in the Canary Islands of Spain, located 2 km (1.2 mi) north of the island of Lanzarote with the strait named Río. It was formed by the Canary hotspot. The island is part of Parque Natural del Archipiélago Chinijo, Reserve of the Biosphere, "Marine Reserve of La Graciosa and the islands to the North of Lanzarote" it is linked to the municipality of Teguise. The island forms a part of the Chinijo Archipelago. The village is in the southeastern part of the island with houses encircling the harbor which has two piers and a yacht area in the bay. The only two settlements are Caleta del Sebo and summer-residence Casas de Pedro Barba. The island is entirely made up of volcanic rock and sands.

The population is 700. Tourism is the main industry along with fishing. Every year, tourists flock to the island for its tempered climate and its sandy volcanic coasts. The island has a school, lyceum, post office, supermarkets, a bank, port, beaches, and — except bar-restaurants — a square where bicycles can be hired (plaza).

Streets and roads on La Graciosa are unpaved sand. The Gracioseras can often be seen early each morning sweeping the streets smooth of the previous night's footprints. Motor vehicles are strictly prohibited and limited to a handful of licensed vehicles for special purposes. Since the roads are bad, and cars have to be shipped to Lanzarote for repair, about 70% of the motor vehicles on the island are old Land Rovers which often can be repaired by a local serviceman.