Varaldsøy is a former municipality in Hordaland county, Norway.
Varaldsøy is an island (Varaldsøyna) in the Hardangerfjord in western Kvinnherad. The village of Varaldsøy is located on the island.
It was declared to be a municipality by a split from Strandebarm on 1 January 1902. At that time Varaldsøy had a population of 1,661. On 1 January 1965 a part of the district of Mundheim with 300 inhabitants was incorporated into Kvam municipality. The rest of Varaldsøy, with 511 inhabitants, became a part of Kvinnherad.
Coordinates: 60°08′N 6°00′E / 60.133°N 6.000°E