Walter Russell Rea, 1st Baron Rea (18 May 1873 – 26 May 1948), was a British merchant banker and Liberal politician. Rea was the son of Russell Rea. He was elected to the House of Commons for Scarborough in 1906, a seat he held until 1918, and served under H. H. Asquith as a Junior Lord of the Treasury from 1915 to 1916.