Avatar: The Way of Water is a 2022 epic science fiction film co-produced, co-edited, and directed by James Cameron, who co-wrote the screenplay with Rick Jaffa and Amanda Silver from a story the trio wrote with Josh Friedman and Shane Salerno. Distributed by 20th Century Studios, it is the sequel to Avatar (2009) and the second installment in the Avatar film series. It features Sam Worthington, Zoe Saldaña, Stephen Lang, Joel David Moore, CCH Pounder, Giovanni Ribisi, Dileep Rao and Matt Gerald reprising their roles from the first film, with Sigourney Weaver returning in an additional role and Kate Winslet joining the cast. It follows a blue-skinned humanoid Na'vi named Jake Sully (Worthington) as he and his family, under renewed human threat, seek refuge with the aquatic Metkayina clan of Pandora, a habitable exomoon on which they live.

Cameron said in 2006 that he would like to make sequels to Avatar if it were successful, and he announced the first two sequels in 2010, following the widespread success of the first film, with the first sequel aiming for a 2014 release. However, the addition of two more sequels, for a total of five Avatar films, and the necessity to develop new technology to film performance capture scenes underwater, a feat never accomplished before, led to significant delays to allow the crew more time to work on the writing, preproduction, and visual effects. The filming process, which occurred simultaneously with Avatar: Fire and Ash, began in Manhattan Beach, California, on August 15, 2017. The filming location moved to Wellington on September 25, 2017, which ended in late September 2020 after three years of shooting. With an estimated budget of $350–460 million, the film is one of the most expensive ever made.

After repeated delays in release, Avatar: The Way of Water premiered at the Odeon Luxe Leicester Square in London on December 6, 2022, and was released in the United States on December 16. The film received generally positive reviews from critics, who praised the visual effects and technical achievements but criticized the runtime. It was a major box office success, breaking multiple records, and grossing $2.320 billion worldwide, making it the highest-grossing film of 2022, the highest-grossing film since the COVID-19 pandemic, and the third-highest-grossing film of all time. The National Board of Review and the American Film Institute named The Way of Water one of the top-ten films of 2022. Among its many accolades, the film was nominated for four awards at the 95th Academy Awards, including Best Picture, and won for Best Visual Effects. The third film, Fire and Ash, is set to be released in December 2025.