Deepwater River, a mostly perennial stream of the Dumaresq-Macintyre catchment within the Murray–Darling basin, is located in the Northern Tablelands district of New South Wales, Australia.

The river rises on the western slopes of the Great Dividing Range, near Old Man Gibber, east of Deepwater, and flows generally north northwest, west, and then west, before reaching its confluence with Bluff River to form the Mole River, near Sandy Flat; descending 479 metres (1,572 ft) over its 84 kilometres (52 mi) course.

The New England Highway crosses the river at the settlement of Deepwater.

• Rivers of New South Wales
• List of rivers of Australia

• "Border Rivers catchments" (map). Office of Environment and Heritage. Government of New South Wales.

29°13′S 151°57′E / 29.217°S 151.950°E / -29.217; 151.950