Elizabeth Bay is a harbourside suburb in eastern Sydney, in the state of New South Wales, Australia.
Elizabeth Bay is located 3 kilometres east of the Sydney central business district and is part of the local government area of the City of Sydney. The suburb of Elizabeth Bay takes its name from the bay on Sydney Harbour. Macleay Point separates Elizabeth Bay from Rushcutters Bay. The suburb of Elizabeth Bay is surrounded by the suburbs of Rushcutters Bay and Potts Point. Kings Cross is a locality on the south-western border and Garden Island is a locality, to the north.