Irvine Wallace "Ace" Bailey (July 3, 1903 – April 7, 1992) was an ice hockey player who competed for the Toronto Maple Leafs during eight seasons, from 1926–1933.

Born in Bracebridge, Ontario, Bailey grew up in Toronto and played junior hockey for St. Mary's in the Ontario Hockey Association. He played senior hockey in Peterborough for two seasons (1924–1926) and in November 1926 was signed by the Toronto St. Patricks of the National Hockey League, renamed the Toronto Maple Leafs in his first season with the team. He was the leading scorer and goal scorer in the NHL in the 1928–29 season, with 22 goals and 32 points in 44 games. He was again the Leafs' leading scorer in 1929–30 and one point short of repeating in 1930–31. After three consecutive 20-goal seasons, his offensive production declined in the 1931–32 season; however, Bailey still helped Toronto win the Stanley Cup in 1932.

Bailey's career came to an abrupt end on December 13, 1933, when he was hit from behind by Eddie Shore of the Boston Bruins, apparently in retaliation for a hit he had received from Red Horner moments earlier, and hit his head on the ice, fracturing his skull. It was feared that Bailey would not survive after severely injuring his head. Bailey did recover, but never played hockey again. An all-star benefit game was held at Maple Leaf Gardens on February 14, 1934, which raised $20,909.40 for Bailey and his family. Bailey and Shore shook hands and embraced at centre ice before the game began. Thirteen years later, the NHL introduced an annual all-star game.