The Peenestrom is a gut, strait or river in Mecklenburg-Vorpommern, Germany. It is 20 kilometres long and is the westernmost connection of the Szczecin Lagoon (together with the Świna and the Dziwna) with the Baltic Sea. It is therefore also one of the three distributaries of the Oder.

The Peenestrom at Wolgast
Bascule bridge over the Peenestrom

Coordinates: 54°4′11″N 13°47′37″E / 54.06972°N 13.79361°E / 54.06972; 13.79361