Portobelo is a historic port and corregimiento in Portobelo District, Colón Province, Panama. Located on the northern part of the Isthmus of Panama, it is 32 km (20 mi) northeast of the modern port of Colón now at the Atlantic entrance to the Panama Canal. It has a population of 4,559 as of 2010, and functions as the seat of Portobelo District.

The Portobelo District is one of the districts that make up the Colón Province, Panama. It covers an area of 397 sq.km, and the latest official estimate of population is 10,581. The district capital is the town of Portobelo, the Spanish roadstead on the coast of Panama which replaced the original settlement of Nombre de Dios.