Markvatnet is a lake that lies in Meløy Municipality in Nordland county, Norway. The 2.28-square-kilometre (0.88 sq mi) lake is located about 4 kilometres (2.5 mi) east of the village of Reipå and the same distance north of the municipal centre of Ørnes. The lake Lysvatnet lies about 3 kilometres (1.9 mi) to the east of Markvatnet.