Catarata de Ahuashiyacu, Waterfall in San Martín, Peru.

Catarata de Ahuashiyacu is a waterfall in the Cordillera Escalera Regional Conservation Area, in La Banda de Shilcayo district, San Martín. It consists of two drops: an upper fall of about 60 metres with no enabled access, and a lower fall of 40 metres reached by a prepared tourist path. The lower fall ends in a pool about 12 metres across, from 30 cm deep at the edge to 2.5 metres at the centre.

The area was protected to preserve the natural resources of the Amazon environment. It now forms part of the Cordillera Escalera Regional Conservation Area, which safeguards the forest and its water sources.

Ahuashiyacu is a Quechua phrase meaning laughing or singing water. A local legend tells of a tribal chief who had the community's sorcerer turn his beautiful daughter into water so he could keep her with him; the sorcerer made her the waterfall instead, so her beauty would endure and bring joy to people.

A well-maintained trail leads to the waterfall in about 10 minutes and is easy to walk. The site sits about 14 kilometers from the city of Tarapoto and is accessible from there.

From January through March during the rainy season, the water volume increases significantly and creates a more powerful flow. This stronger cascade makes the experience quite different from visiting during the drier months.