NXT TakeOver: Portland was the 28th NXT TakeOver professional wrestling livestreaming event produced by WWE. It was held exclusively for wrestlers from the promotion's NXT brand division. The event aired exclusively on the WWE Network and took place on February 16, 2020, at the Moda Center in Portland, Oregon. It was also the first NXT TakeOver to be held on a Sunday.

This would be the last TakeOver event to take place before the start of the COVID-19 pandemic, which began affecting all of WWE's programming in mid-March with NXT's following episodes and events taking place in Florida as a result of the pandemic. It would subsequently be the final TakeOver to be held outside of Florida as the TakeOver series was discontinued in September 2021. It was also the final NXT event to take place outside of Florida until the brand's 2022 WrestleMania week event, Stand & Deliver. Additionally, this was the last standalone NXT livestreaming event to take place outside of Florida until the 2023 Vengeance Day.

Six matches were contested at the event. In the main event, Adam Cole defeated Tommaso Ciampa to retain the NXT Championship. In the penultimate match, Dusty Rhodes Tag Team Classic winners The BroserWeights (Matt Riddle and Pete Dunne) defeated The Undisputed Era (Bobby Fish and Kyle O'Reilly) to win the NXT Tag Team Championship. In other prominent matches, Rhea Ripley retained the NXT Women's Championship against Bianca Belair, Keith Lee defeated Dominik Dijakovic to retain the NXT North American Championship, and in the opening bout, Finn Bálor defeated Johnny Gargano.