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Elwood is a village in Will County, Illinois, United States. The population was 2,279 at the 2010 United States Census.

Elwood was founded in 1854, and incorporated as a village in 1869. The completion of the Joliet–Bloomington railroad played a major role in the founding of Elwood. In 1954, the village celebrated its centennial, and 20,000 people gathered to watch the parade.The Midewin National Tallgrass Prairie, a prairie reserve operated by the United States Forest Service is located on the site of the former Joliet Army Ammunition Plant near Elwood, Illinois, and was established by federal law in 1996.

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