Graduation Day is a 1981 American slasher film co-written, co-produced and directed by Herb Freed, and starring Christopher George, Patch Mackenzie, Michael Pataki, and E. Danny Murphy in his film debut. The plot follows a high school track team who are stalked and murdered by a masked assailant days before their graduation. Linnea Quigley, Vanna White, and Karen Abbott appear in supporting performances.

Filmed in Los Angeles, Graduation Day was released in the spring of 1981, grossing nearly $24 million on a budget of $250,000, far exceeding the genre's usual box office at the time. Though it received a largely negative reception, the film has since developed a cult following among fans of the genre.

Fatal Games, another slasher film with a similar plot, was released in 1984.