Carnival of Carnage is the debut studio album by American hip hop group Insane Clown Posse, released on October 18, 1992, by Psychopathic Records.

Recording sessions for the album took place from 1991 to 1992 at Miller Midi Productions and The Tempermill Studio. The album is the first Joker's Card in the group's Dark Carnival mythology. The album's lyrics describe the Carnival of Carnage as a representation of the violence that occurs within the ghettos, which takes the form of a traveling carnival to enact the same brutality on the upper class.

Carnival of Carnage was the first album on which Insane Clown Posse collaborated with producer Mike E. Clark, who would work with the group throughout much of their career. It features guest appearances by popular Detroit rappers Esham and Kid Rock. The album features the only recorded appearances of member John Kickjazz, who left the group prior to the album's release. Although the album did not initially sell well, it became eligible for gold certification by the RIAA in 2010.