The Banaue Rice Terraces are terraces that were carved into the mountains of Banaue, Ifugao, in the Philippines, by the ancestors of the Igorot people. The terraces are occasionally called the "Eighth Wonder of the World". It is commonly thought that the terraces were built with minimal equipment, largely by hand. The terraces are located approximately 1,500 meters above sea level. These are fed by an ancient irrigation system from the rainforests above the terraces. It is said that if the steps were put end to end, it would encircle half of the globe.

In agriculture, a terrace is a piece of sloped plane that has been cut into a series of successively receding flat surfaces or platforms, which resemble steps, for the purposes of more effective farming. This type of landscaping is therefore called terracing. Graduated terrace steps are commonly used to farm on hilly or mountainous terrain. Terraced fields decrease both erosion and surface runoff, and may be used to support growing crops that require irrigation, such as rice. The Rice Terraces of the Philippine Cordilleras have been designated as a UNESCO World Heritage Site because of the significance of this technique.