Balmoral is a township in the Shire of Southern Grampians in the Western District of Victoria, Australia. At the 2016 census, Balmoral and the surrounding area had a population of 294.

The township was settled in the early 1850s, the Post Office opening on 31 October 1855.

A railway line, built in a number of sections, once connected Horsham and Hamilton, running via Cavendish, Balmoral and East Natimuk. The railway closed 1 July 1979 with the majority of the railway track being removed, though several rail bridges remain in place.

The Balmoral Magistrates' Court closed on 1 November 1981, not having been visited by a Magistrate since 1971.

The town in conjunction with neighbouring township Harrow has an Australian Rules football and netball club competing in the Horsham & District Football League.

Golfers play at the Balmoral Golf Club on Rocklands Road.

The Douglas Mine owned by Iluka Resources, which operated from 2006 to 2012 is located nearby.