Picola ( /pɪˈkɒlə/) is a town in northern Victoria, Australia. The town is located in the Shire of Moira Local Government Area, 246 kilometres (153 mi) from the state capital, Melbourne. At the 2006 census, Picola had a population of 754.

Picola Post Office opened on 24 August 1878 and closed in late 2010. The Australia Post outlet was for a short time taken over by the Picola Hotel, until early 2011. The hotel remains a community postal agent.

The picola hotel offers a variety of services, from meals and functions, weekly raffles, and is now the local milk bar, community postal agent and Vline ticket agent.

The town was once a railhead for loading of wheat, livestock and timber from the nearby Barmah National Park.

Today the Picola district is an irrigated, mixed farming area. It is serviced by two return V-Line coach services on weekdays, both connecting with train services to Melbourne Southern Cross in Shepparton, a 45 min drive away. This service originates in Barmah (see V-Line website or contact the Picola hotel (03)58691207 for timetables)