Preston Falls is a waterfall on Preston Creek in north-west Tasmania, near the Gunns Plains and the village of Preston, not far inland from Ulverstone.

The falls plunge approximately 25 metres in a series of three drops into a gorge below, flowing eventually into the Leven River.

There is some naming complexity surrounding this site: the waterfall is officially known as Delaneys Falls, named after former landowner William Delaney, but it has long been signposted as Preston Falls due to its proximity to the town of Preston.

A separate, smaller cascading falls on private land is considered the true Preston Falls.

The well-maintained access track to the lookout is just 120 metres from the car park, passing through blackwood forest and crossing Preston Creek before reaching a viewing platform perched above the gorge.