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Picnic Bay refers to both a bay on the south-east corner of Magnetic Island (offshore from Townsville in Queensland, Australia) and the island's main town. At the 2006 census, Picnic Bay had a population of 360.
Until recently, the bay was the landing site for ferry services from the mainland, but ferries now arrive at a new terminal at nearby Nelly Bay. The town of Picnic Bay features an open-air shopping complex, The Picnic Bay Mall, and a patrolled beach along the waterfront. The town also hosts the Magnetic Island Golf Course and the Magnetic Island Police Station. Off the coast the wreck of the George Rennie is visible at low tide.