Keltie Water is a stream in the Stirling Council Area of Scotland, rising in the mountains east of Loch Lubnaig and flowing southeast and south for approximately 10 miles (16 km) before joining the River Teith about a mile southeast of Callander.

The watercourse is perhaps best known for Bracklinn Falls, a scenic cascade reached by a woodland walk from Callander.

Below the falls, the Keltie Water cuts through Bracklinn Glen, exposing alternating sandstones and mudstones of the Teith Sandstone Formation, making it a site of geological interest.

The broader catchment sits within a designated Site of Special Scientific Interest and supports habitat for black grouse.