Palace Theatre, Entertainment venue in Bourke Street, Melbourne, Australia.

The Palace Theatre stood at 20-30 Bourke Street in Melbourne, a live theatre built in 1912 with seating on three levels and a large proscenium hung with gold curtains. Its upper floors held rooms called the Pastoral Hotel. Only the Art Deco facade by H. Vivian Taylor survives, the rest demolished in 2020.

The site at 20-30 Bourke Street held the Excelsior Hotel from the late 1850s, sold in February 1911 for £32,000. Architects Eaton & Bates with Nahum Barnet designed a theatre for James Brennan, opened in April 1912 as Brennans Amphitheater. Renamed Palace Theatre after Henry Eli White's 1916 alterations, it became the Apollo in 1934, the St James in 1940, and was bought by MGM in 1951. It closed in April 2014 and was demolished except for its facade in 2020.

The name changed with each use: Brennan's Amphitheater in 1912, the Palace in 1916, the Apollo in 1934, the St James in 1940, the Metro nightclub in 1987, and the Palace again from 2007. Artists Arthur Streeton and Max Meldrum rented an upper front room as a studio between 1919 and about 1922.

The theatre closed in April 2014 and was demolished in 2020, leaving only the Art Deco facade on Bourke Street, so there is no interior to visit or tickets to buy. The surviving facade, designed by H Vivian Taylor, can be seen from the street at 20-30 Bourke Street, near Parliament House and public transport.

The 2007 buyers had run the former Palace in St Kilda and lost a two-year lease dispute with the State Government before moving their business to the Metro, which they renamed The Palace. The St Kilda building burned down months later under suspicious circumstances.