巴拿马国旗是代表中美洲南端巴拿马共和国政府的合法旗帜。这面旗帜也是巴拿马共和国境内最为人知的国家象征。巴拿马国旗是一面分为4个部位的2:3比例长方形：左上角为白底与五角海蓝星；左下角为海蓝底；右上角为红底；右下角为白底与五角红星。

蓝色代表自由党、红色代表保守党，两党为巴拿马主要党派。白色则代表两党团结互助。左上方的白底蓝星代表忠诚和廉洁，右下方白底红星代表法律的权威。十字线分隔成四块的设计方式，代表巴拿马位于南美洲、北美洲、大西洋、太平洋四个地域的交界处。红蓝白三色为沿用支持巴拿马独立的美国星条旗颜色。

The flag of Panama was made by María de la Ossa de Amador and was officially adopted by the "ley 48 de 1925". The Panamanian flag day is celebrated on November 4, one day after Panamanian separation from Colombia.

The first flag proposed in 1903 consisted of 7 horizontal stripes of red and yellow, with a blue canton containing 2 golden suns, joined by a narrow line to depict the oceans to be united by the Panama Canal (see the depiction below). However, this was not accepted by the Panamanian leader, Manuel Amador Guerrero, whose family designed a new flag.