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Terry Wallace (born 13 December 1958) is a former professional Australian rules football player and coach.
As a player, his career spanned three VFL/AFL clubs; most notably Hawthorn where he played in three premierships. After one season with Richmond, he then played with Footscray Football Club where he earned two Best and Fairest awards. He also achieved one All-Australian selection when representing the VFA at the 1988 National Carnival.
As coach, he took the Western Bulldogs from 15th in 1996 to 3rd when he featured in the documentary Year of the Dogs a position in which the club held in 1997 and 1998 during which he was named coach of the All-Australian team. Wallace's coaching style is considered to be innovative and he is credited with having started the modern practice of sides warming up on the field before a match. However Wallace's coaching career at Richmond between 2005 and 2009 was not so successful, and he stepped down from coaching in June 2009.
His son, Brent Wallace, is currently a field umpire in the AFL.