A rift valley is a linear-shaped lowland between highlands or mountain ranges created by the action of a geologic rift or fault. This action is manifest as crustal extension, a spreading apart of the surface which is subsequently further deepened by the forces of erosion. When the tensional forces are strong enough to cause the plate to split apart it will do so such that a center block will drop down relative to its flanking blocks, forming a graben. This creates the nearly parallel steeply dipping walls. This feature is the beginning of the rift valley. As this process continues, the valley gets wider and wider until it becomes a large basin that fills with sediment from the rift walls and the surrounding area. One of the better long term examples of this process is the Basin and Range province in Nevada and Utah. Rifts can occur at all elevations, from the sea floor to plateaus and mountain ranges. They can occur in continental crust or in oceanic crust. Rift valleys are often associated with a number of adjoining subsidiary or co-extensive valleys which are typically considered geologically part of the principal rift valley.

The most extensive rift valley is located along the crest of the mid-ocean ridge system and is the result of sea floor spreading. Examples of this type of rift include the Mid-Atlantic Ridge and the East Pacific Rise.

Many existing continental rift valleys are the result of a failed arm (aulacogen) of a triple junction, although there are two, the East African Rift and the Baikal Rift Zone, which are currently active, as well as a third which may be, the West Antarctic Rift. In these instances, not only the crust, but also entire tectonic plates are in the process of breaking apart to create new plates. If they continue, continental rifts will eventually become oceanic rifts.