Punakha (Tibetan alphabet: སྤུ་ན་ཁ་) is the administrative centre of Punakha dzongkhag, one of the 20 districts of Bhutan. Punakha was the capital of Bhutan and the seat of government until 1955, when the capital was moved to Thimphu. It is about 72 km away from Thimphu and it takes about 3 hours by car from the capital Thimphu. Unlike Thimphu it is quite warm in winter and hot in summer. It is located at an elevation of 1,200 metres above sea level and rice is grown as the main crop along the river valleys of two main rivers of Bhutan, the Pho Chu and Mo Chu. Dzongkha is widely spoken in this district.

Pungthang Dewachen Phodrang (Palace of Great Happiness) or Punakha Dzong was constructed by Tuebi Zaow Balip under the great command of Zhabdrung Ngawang Namgyal in 1637 and believed to have been completed in two years of time period. It is also the country's most beautiful Dzong.It is the winter residence of Bhutan's Central Monastic Body led by HH the Je Khenpo. The Dzong houses the most sacred relics of the Southern Drukpa Kagyu school including the Rangjung Kasarpani, and the sacred remains of Zhabdrung Ngawang Namgyal and Terton Padma Lingpa.

The Punakha Dzong, also known as Pungtang Dechen Photrang Dzong (meaning “the palace of great happiness or bliss”) is the administrative centre of Punakha dzongkhag in Punakha, Bhutan. Constructed by Zhabdrung (Shabdrung) Ngawang Namgyal in 1637–38, it is the second oldest and second largest dzong in Bhutan and one of its most majestic structures. The Dzong houses the sacred relics of the southern Drukpa Kagyu school including the Rangjung Kasarpani, and the sacred remains of Zhabdrung Ngawang Namgyal and Terton Padma Lingpa. Punakha Dzong was the administrative centre and the seat of the Government of Bhutan until 1955, when the capital was moved to Thimphu.

The Dzong is located at the confluence of the Pho Chhu (father) and Mo Chhu (mother) rivers in the Punakha–Wangdue valley. The source of the Mo chu river is in the northern hills of Lighsi and Laya in Bhutan, and in Tibet. The Po Chu River is fed by glaciers in the Lunana region of the Punakha valley. After the confluence of these two rivers, the main river is known as Puna Tsang chu or Sankosh River and flows down through Wangdiphodrang, crosses the Bhutan–India border at Kalikhola and eventually meets the Brahmaputra River.