HMS Penelope was an Arethusa-class light cruiser of the Royal Navy. She was built by Harland & Wolff; her keel was laid down on 30 May 1934. She was launched on 15 October 1935, and commissioned 13 November 1936. She was torpedoed and sunk by a German U-boat near Naples with great loss of life on 18 February 1944.