Erzsébet tér, Public square in District V, Hungary.

Erzsébet tér is a rectangular square in Pest's V. district, about 70 percent of it green space, split into a western park and an eastern section by the long former bus station building. The Danubius fountain, designed by Miklós Ybl in 1880–1883, stands on the lawn: a pale-grey stone basin with a carved pedestal, a round bowl above, and a standing figure at the top. A flower bed of purple and white lies in front.

The area lay outside Pest's medieval walls and served as a cemetery, later a market, before being laid out as a park in the mid-19th century and named Erzsébet tér in 1858 after Queen Elisabeth. It was renamed Sztálin tér in 1946, Engels tér in 1953, and Erzsébet tér again in 1990. The Kiosk by Alajos Hauszmann opened in 1874, was rebuilt in Secession style by the Vágó brothers in 1907 as the National Salon, and was demolished in 1960 after wartime damage.

The former bus station building now houses the Design Terminal, hosting exhibitions and fashion events. The monthly WAMP design market attracts visitors interested in local crafts and contemporary design objects.

The square connects to Deák tér metro station, which links three subway lines with multiple exits to the plaza. Restaurants, cafés, and bars line the surrounding area, making it easy to find food and drinks.

The Akvárium Klub opened in 2014 in the two-level space dug out for the abandoned National Theatre, nicknamed the "National Pit" after construction stopped in 1998. Its roof forms the square's water basin and lawn, so the sunken venue sits directly beneath the surface.