Belubula River is a perennial river in the central west region of New South Wales, Australia. It flows into the Lachlan River, which is part of the Murray-Darling basin.
The Belubula begins near Vittoria, between Bathurst and Orange. It flows south and west, joined by eight smaller streams. It flows into Carcoar Lake before reaching its mouth at the Lachlan River, east of Gooloogong. It drops over its course of .
The name comes from the Indigenous Australian word for "stony river" or "big lagoon". The first people to live by the Belubula River are the Wiradjuri clan.
Towns on the Belubula River, from its source towards its mouth, include Blayney, Carcoar, and Canowindra.