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The University of Magallanes (UMAG) is a public state university located in the capital city of Magallanes, Punta Arenas in the south of Chile.

It was founded in 1981 and was the successor to the Punta Arenas sector of the Universidad Tecnica del Estado, established in 1961. As such, it is a member of Universidades del Consejo de Rectores, or Chilean Traditional Universities to give it its simplified English name.

The main campus is in Punta Arenas, which is also home to the Institute of Patagonia. It also has other campuses in Puerto Natales, Puerto Williams, Porvenir and Coyhaique.
UMAG has campuses in Punta Arenas and Puerto Natales, as well as a university centre in Puerto Williams.

The university publishes the humanities and social sciences journal, Magallania, twice a year.

The University of Magallanes consists of five faculties, two autonomous schools, and one interdisciplinary institute. The faculties at UMAG are sciences, engineering, education and social sciences, health sciences, and law, economy and business. In addition, there is the school of medicine, the technological school and Patagonia Institute.

UMAG has a well resourced library service consisting of a Central Library on the main campus, which in 2006 received significant modernisation. Academic works, general collection, newspaper archive, reserve and references make up the library system's five sectors. A smaller satellite library is situated in the Puerto Natales Centre, with The Institute of Patagonia being home to the Documentation Centre.