Earl Stanhope was a title in the Peerage of Great Britain. The earldom was created in 1718 for Major General James Stanhope, a principal minister of King George I, with remainder to the heirs male of his body. He was the son of the Hon. Alexander Stanhope, fifth and youngest son of Philip Stanhope, 1st Earl of Chesterfield. In 1717, James Stanhope had been raised to the peerage as Viscount Stanhope, of Mahón in the Island of Minorca, and Baron Stanhope, of Elvaston in the County of Derby, with special remainder, failing heirs male of his body, to his second cousin John Stanhope of Elvaston and the heirs male of his body. These titles were also in the Peerage of Great Britain. The heir apparent of the Earls Stanhope used Viscount Mahon as a courtesy title.

James Stanhope, 1st Earl Stanhope was a British Army officer, politician, diplomat and peer who effectively served as Chief Minister between 1717 and 1721. He was also the last Chancellor of the Exchequer to sit in the House of Lords.