Drowning in Dreams is a Canadian documentary film, directed by Tim Southam and released in 1997. The film centres on Fred Broennle, a German-Canadian businessman from Thunder Bay, Ontario, who engaged in a multi-year effort to raise the shipwrecked Gunilda from the bottom of Lake Superior.

The film premiered at the 1997 Toronto International Film Festival.

The film received a Genie Award nomination for Best Feature Length Documentary at the 18th Genie Awards.