The Prince Edward Island Railway (PEIR) was a historic Canadian railway in Prince Edward Island (PEI). The railway ran tip-to-tip on the island, from Tignish in the west to Elmira in the east, with major spurs serving Borden-Carleton's train ferry dock, the capital in Charlottetown, Montague and Georgetown and the original eastern terminus at Souris. A major spur from Charlottetown served Murray Harbour on the south coast.
Construction began in 1871 but costs almost bankrupted the government by the next year, a problem that helped pave PEI's entrance into Confederation. The work was picked up by the Canadian Government Railways and largely completed by the mid-1880s. The PEIR saw heavy use, especially during World War II, but like many railways saw declining use through the 1970s. The line officially closed on 31 December 1989 and the rails removed between 1990 and 1992, with the provincial government receiving a one-time payment of $200 million to upgrade the road network in exchange for not opposing the closure.