The Vermont Railway is a shortline railroad in Vermont and eastern New York, operating much of the former Rutland Railway. It is the main part of the Vermont Rail System, which also owns the Green Mountain Railroad, the Rutland's branch to Bellows Falls. The trackage is owned by the Vermont Agency of Transportation except in New York, where VTR operates a line owned by the Boston and Maine Corporation. The rail line employs about 150 people in Vermont.

The Rutland Railroad was a railroad in the northeastern United States, located primarily in the state of Vermont but extending into the state of New York at both its northernmost and southernmost ends. After its closure in 1961, parts of the railroad were taken over by the State of Vermont in early 1963 and are now operated by the Vermont Railway.