Luis Molowny Arbelo (12 May 1925 – 12 February 2010) was a Spanish football (soccer) striker and coach.
He was born in Puerto de la Cruz, Canary Islands. He was the son of Raúl Molowny, who played for CD Tenerife in the 1920s.
During his club career he played for Tenerife (1943–1944), Marino (1944–1946), Real Madrid (1946–1957) and Las Palmas (1957–1958).
He earned 7 caps and scored 2 goals for the Spain national football team from 1950 to 1955, and was part of the Spanish team that finished fourth in the 1950 FIFA World Cup.
He later coached Spain for four games in 1969.
He managed Real Madrid four times between 1974 and 1986. He won two consecutive UEFA Cup in 1985 and 1986. He was also its sport director between 1986 and 1990.
He is tied with Leo Beenhakker at three trophies for the second most number of Spanish League trophies acquired by a Real Madrid manager.