Værøy is an island municipality in Nordland county, Norway. It is part of the traditional district of Lofoten. The administrative centre of the municipality is the village of Sørland on the main island of Værøya. The other village in Værøy is Nordland. Most of the residents live in the Sørland area surrounding the main harbor. The old Værøy Lighthouse sits at the end of that harbor.

The 19-square-kilometre (7.3 sq mi) municipality is the 351st largest by area out of the 356 municipalities in Norway. Værøy is the 347th most populous municipality in Norway with a population of only 688. The municipality's population density is 36.5 inhabitants per square kilometre (95/sq mi) and its population has decreased by 8.8% over the previous 10-year period.