Mulwala is a town in the Federation Council local government area in the Riverina district of New South Wales, Australia. Situated on Lake Mulwala, an artificial lake formed by the damming of the Murray River, it forms a "twin town" with the larger town of Yarrawonga across the border in Victoria. At the 2021 census, Mulwala had a population of 2,557 people. The town's name is derived from an aboriginal word for 'rain'.