Step Falls is a waterfall situated on the Castra Rivulet, approximately 10 kilometres south of Ulverstone in northern Tasmania. It takes its name from the way water cascades down over a series of natural rock steps.

The falls are considered one of the highlights of the Castra Circuit, a roughly 3-kilometre loop on Gaunts Road, Nietta, that also takes in Silver Falls, Castra Cascades, and Castra Falls amid impressive native forest.

The hike to Step Falls is rated Grade 4, suitable for experienced hikers, with a formed earthen track of variable width that may include hardened sections.

Access begins from Gaunts Road, reached by heading south along Castra Road from the Bass Highway's Ulverstone exit.