La Pacana is a Miocene age caldera in northern Chile's Antofagasta Region. Part of the Central Volcanic Zone of the Andes, it is part of the Altiplano-Puna volcanic complex, a major caldera and silicic ignimbrite volcanic field. This volcanic field is located in remote regions at the Zapaleri tripoint between Chile, Bolivia and Argentina.

A caldera is a large cauldron-like hollow that forms shortly after the emptying of a magma chamber in a volcano eruption. An eruption that ejects large volumes of magma over a short period of time can cause significant detriment to the structural integrity of such a chamber, greatly diminishing its capacity to support its own roof, and any substrate or rock resting above. The ground surface then collapses into the emptied or partially emptied magma chamber, leaving a large depression at the surface. Although sometimes described as a crater, the feature is actually a type of sinkhole, as it is formed through subsidence and collapse rather than an explosion or impact. Compared to the thousands of volcanic eruptions that occur over the course of a century, the formation of a caldera is a rare event, occurring only a few times within a given window of 100 years. Only seven caldera-forming collapses are known to have occurred between 1911 and 2016. More recently, a caldera collapse occurred at Kīlauea, Hawaii in 2018.