Værøy is an island and municipality in Nordland county, Norway. It is part of the Lofoten traditional region. The administrative centre of the municipality is the village of Sørland. Værøy was established as a municipality on 1 January 1838 (see formannskapsdistrikt). The new municipality of Røst was separated from Værøy on 1 July 1928.
The Old Norse form of the name was Veðrøy. The first element is veðr which means "weather" (here referring to harsh weather and the exposed and unsheltered position of the island). The last element is øy which means "island".The coat-of-arms is from modern times. They were granted on 10 July 1988. The arms show a puffin. Puffins nest in large numbers in the area and used to be of great importance for the village, both for meat and down.