The Broken River, a minor inland perennial river of the Goulburn Broken catchment, part of the Murray-Darling basin, is located in the alpine and Northern Country/North Central regions of the Australian state of Victoria. The headwaters of the Broken River rise in the western slopes of the Victorian Alps, near Bald Hill and descend to flow into the Goulburn River near Shepparton. The river is impounded by the Nillahcootie Dam to create Lake Nillahcootie and Benalla Dam to create Lake Benalla.