Souled Out (1997) was the inaugural Souled Out professional wrestling pay-per-view (PPV) event produced by World Championship Wrestling (WCW). The event took place on January 25, 1997 from the Five Seasons Center in Cedar Rapids, Iowa. The pay-per-view was presented by the nWo in storyline and the official title of the event was nWo Souled Out. It was an nWo-themed pay-per-view, with nWo official referee Nick Patrick officiating all of the matches by wearing an nWo T-shirt and cap and the group's members Eric Bischoff and Ted DiBiase providing commentary.

Eight matches were contested at the event and all the matches featured WCW roster versus nWo members. nWo leader Hollywood Hogan defended the WCW World Heavyweight Championship against WCW's The Giant in the main event as Giant invoked his title opportunity which he earned by winning the 1996 World War 3. The match ended in a no contest when the nWo referee Nick Patrick stopped counting the pinfall for Giant and the nWo members interfered to attack him.