Actual Fantasy is an album released in 1996 by Dutch multi-instrumentalist Arjen A. Lucassen and is the second album of his Ayreon project. It is the only Ayreon release that does not feature a single overarching story concept, but instead draws on science fiction and fantasy films for inspiration, as well as stories written by Arjen himself.

In 2004, Arjen moved to a new record label, Inside Out Germany. With this move came re-issues of all previous Ayreon releases, including Actual Fantasy. The re-issue came with a bonus DVD featuring a 5.1 remix of the entire original album, a video clip for "The Stranger from Within," and a video featurette showing the 2004 recordings of drums, bass, and guitar for the remix.