The Penalty is an American psychological thriller crime film starring Lon Chaney and originally released in 1920 by Goldwyn Pictures. The movie was directed by Wallace Worsley, and written by Philip Lonergan and Charles Kenyon, based upon the pulp novel by Gouverneur Morris. The supporting cast includes Charles Clary, Doris Pawn, Jim Mason, and Claire Adams. The copyright for the film was owned by Gouverneur Morris, who wrote the novel on which the film was based. The budget for the film was $88,868.00. Portions of the film were shot in San Francisco.

The Penalty was re-released to theaters in 1926 by MGM. This was the first of five films Chaney would make with director Wallace Worsley, the others being Ace of Hearts, Voices of the City, A Blind Bargain and The Hunchback of Notre Dame. The film exists in its complete form and is available on DVD. Chaney's leather stumps, crutches and costume from this film were donated to the Natural History Museum in Los Angeles, along with his famous make-up case.