Not to be confused with Fox Bay, Falkland Islands

Foxe Basin is a shallow oceanic basin north of Hudson Bay, in Nunavut, Canada, located between Baffin Island and the Melville Peninsula. For most of the year, it is blocked by ice floes.

The nutrient-rich cold waters found in the basin are known to be especially favorable to phytoplankton and the numerous islands within it are important bird habitats, including Sabine's Gulls and many types of shorebirds. Bowhead whales migrate to the northern part of the basin each summer.

The basin takes its name from the English explorer Luke Foxe.

Foxe Basin is a broad, predominantly shallow depression, generally less than 100 metres (330 ft) in depth, while to the south, depths of up to 400 metres (1,300 ft) occur. The tidal range decreases from 5 m (16 ft) in the southeast to less than 1 m (3 ft 3 in) in the northwest. During much of the year, landfast ice dominates in the north, while pack ice prevails towards the south. Foxe Basin itself is rarely ice-free until September, open pack ice being common throughout the summer. Vigorous tidal currents and strong winds keep the ice pack in constant motion and contribute to the numerous polynyas and shore leads which are found throughout the region. This same motion, combined with the high sediment content of the water makes the sea ice of Foxe Basin dark and rough, easily distinguishable from other ice in the Canadian Arctic.