The 2009 No Way Out was the 11th No Way Out professional wrestling pay-per-view (PPV) event produced by World Wrestling Entertainment (WWE). It was held for wrestlers from the promotion's Raw, SmackDown, and ECW brand divisions. The event took place on February 15, 2009, at the KeyArena in Seattle, Washington. It was the final No Way Out held until 2012 as No Way Out's February slot would end up being replaced by Elimination Chamber in 2010.

The main events for the Raw and SmackDown brands were their at-the-time annual Elimination Chamber matches for their respective world championships. The WWE Championship was contested for in the Smackdown main event with champion Edge defending against Jeff Hardy, Triple H, The Undertaker, The Big Show, and Vladimir Kozlov. Triple H emerged victorious by eliminating Undertaker last. Later in the evening, the World Heavyweight Championship was on the line in the Raw main event. The match was to originally feature champion John Cena defend against Kane, Rey Mysterio, Mike Knox, Chris Jericho, and Kofi Kingston. However, as Kingston was making his way to the structure, he was attacked by Edge and taken out of the match. Edge then assumed Kingston's place in the match and won by eliminating Mysterio last, resulting in two of WWE's world championships belonging to members of the SmackDown brand.

The ECW brand's lone match saw Jack Swagger defend his ECW Championship successfully against Finlay. The remaining matches on the card were all from the Raw brand and saw Randy Orton defeat Shane McMahon in a No Holds Barred match signed after Shane got revenge against Orton for an attack on his father Vince McMahon, and Shawn Michaels defeated John "Bradshaw" Layfield (JBL) in a match where Michaels would gain financial freedom from JBL if he won but would become a permanent employee of JBL if he lost.