Valle Anzasca (Anzasca Valley) is a valley of the Alps, situated in the Pennine range. The valley is drained by the Anza, a tributary of the Toce at Piedimulera. It is situated to the south of the Valle Antrona.

The valley is located in the Province of Verbano-Cusio-Ossola, in the Piedmont region of Italy. It is politically divided into six municipalities: Piedimulera, Calasca-Castiglione, Macugnaga, Bannio Anzino, Vanzone con San Carlo en Ceppo Morelli.

Macugnaga is located at the western most end of the Anzasca valley.