The Grassmarket is a small area of central Edinburgh, Scotland, named after the old market square at its heart. In relation to the rest of the city the area is a hollow, well below surrounding ground levels.
The Grassmarket is located directly south-east of Edinburgh Castle with the castle dominating views northwards from the space. It adjoins the Cowgate to the east, the West Bow (leading to Victoria Street) to the north-east, King's Stables Road to the north-west and the West Port to the west. Leading off the Grassmarket on its south-west corner is The Vennel, on the east side of which can still be seen some of the best remaining parts of the Flodden and Telfer city walls.
It forms part of the main east-west vehicle arteries through the city centre.
The Grassmarket was re-developed in a 2008 project (carried out 2009/2010) costing £5 million. Measures aiming to make the area more pedestrian-friendly included the extension of pavement cafe areas and the creation an "events zone".