Arjunayana, Arjunavana, Arjunavayana or Arjunayanaka was an ancient republican people located in Punjab or north-eastern Rajasthan. They emerged as a political power during the Shunga period. In the Allahabad Pillar Inscription of Samudragupta, the Arjunayanas figure among the autonomous political communities bordering on the Gupta Empire who accepted the overlordship of Samudragupta. They are also mentioned in Bṛhat Saṃhitā of Varahamihira. According to Dr Buddha Prakash, the Arjunayanas are mentioned as Prajjunakas in Kautiliya's text Arthashastra which also places them in the northern division of India. Vincent Smith locates their republic in Alwar and Bharatpur states now in Rajasthan, a view which has been rejected by R. C. Majumdar. They are mentioned in the literary sources in Afghanistan from 4th century BCE and after Alexander's invasions in 3rd century they have been mentioned in Agra, Mathura and Southern Haryana region till 4th century CE where their coins have been found too.

The Shunga dynasty was the fifth ruling dynasty of Magadha and controlled most of the northern Indian subcontinent from around 187 to 73 BCE. The dynasty was established by Pushyamitra, after taking the throne of Magadha from the Mauryas. The Shunga Empire's capital was Pataliputra, but later emperors such as Bhagabhadra also held court at Besnagar in eastern Malwa. This dynasty is also responsible for successfully fighting and resisting the Greeks in Shunga-Greek War.