Varaldsøy is an island (and village) in the municipality of Kvinnherad in Hordaland county, Norway. The island is the largest island in the Hardangerfjorden. Most of the inhabitants live on the southern tip of the island in the village of Varaldsøy, where Varaldsøy Church is located. The tall mountain Øyefjellet is the highest point on the island.
Varaldsøy is a former municipality in Hordaland county, Norway. The municipality encompassed the whole island of Varaldsøy and a wide strip of the mainland northwest and west of the island. The administrative centre of the municipality was the village area of Varaldsøy on the southern part of the island, where Varaldsøy Church is located.