Franklin Bay is a large inlet in the Northwest Territories, Canada. It is a southern arm of the Amundsen Gulf, southeastern Beaufort Sea. The bay measures 48 kilometres (30 mi) long, and 40 kilometres (25 mi) wide at its mouth. The Parry Peninsula is to the east, and its southern area is called Langton Bay.
Franklin Bay receives the Horton River. There are gales in the early winter months.
Franklin Bay was named in honor of Arctic explorer Sir John Franklin by John Richardson in 1826