Crescent Valley is a census-designated place (CDP) in Eureka County, Nevada, United States, directly off Nevada State Route 306. It is the site of Crescent Valley Elementary School, Crescent Valley Fair Grounds, and Crescent Valley Community Park. The census-designated place (CDP) of Crescent Valley had a population of 483 as of the 2020 census.

State Route 306 is a 30.631-mile (49.296 km) state highway in Lander and Eureka counties in northern Nevada, United States. It connects the mining area of Gold Acres in Lander County to Interstate 80 (I-80) at the Beowawe Interchange near Beowawe in Eureka County via Crescent Valley. The road has been a state highway since the 1920s, having been established as part of a much longer State Route 21 by 1929.