Villa Paranacito is a town in the southeast corner of the province of Entre Ríos, Argentina. It is the head town of the Islas del Ibicuy Department.
The town lies in the third section of the Paraná Delta, at the heart of the low-lying Ibicuy Islands. It serves as the administrative centre for the dispersed inhabitants of the islands and for the delta's timber producers.
Many of the town's inhabitants live on outlying islands, and several thousand more live across the whole group of islands.