Krenkel Bay is a body of water in the northeastern area of Komsomolets Island, the northernmost island of Severnaya Zemlya.
The bay is open to the southeast. It is regular in shape and has a width of about 25 km (16 mi). The edge of the massive Academy of Sciences Glacier runs all along the western shore, while the northern shoreline is bound by a stretch of unglaciated area. Ozerny Island lies close to the northeastern headland of the bay.