Upper Preston Falls is an unofficially named waterfall on Preston Creek in Tasmania, and the first in a series of three waterfalls found along an approximately one-kilometre stretch of the creek.

The falls drop around four to five metres and are best appreciated from the side, as a large rock sits directly in front of the drop point and partially obscures a straight-on view.

A notable feature is the semi-sheltered cave directly behind the waterfall, which allows visitors to view the falls up close from behind.

Upper Preston Falls sits furthest upstream of the three waterfalls on this section of Preston Creek, with the informally named Preston Falls located downstream and the well-known Delaneys Falls — sometimes signed as Preston Falls — further downstream still.