The Dreamworld Tower is a 119-metre-high (390 ft) tower located in the Dreamworld theme park on the Gold Coast, Queensland, Australia. The Giant Drop and the former Tower of Terror II uses this tower. The Dreamworld Tower supports both the Tower of Terror II and the Giant Drop.

The Tower of Terror II at Dreamworld (Australia) was permanently retired in November 2019. While the massive 119-meter steel tower itself remains standing, the high-speed shuttle coaster that launched up it was removed. As of 2026, the tower continues to support the Giant Drop, which remains one of the world's tallest free-fall rides. However, the physical space once occupied by the Tower of Terror's "Escape Pod" and its long tunnel has been repurposed as part of Dreamworld's broader multi-year "reinvigoration" plan. The park shifted its thrill-seeker focus toward the Steel Taipan, a triple-launch coaster that opened in 2021, featuring the world’s first "spinning gondola" on the rear of a train. While nothing has "replaced" the Tower of Terror on the actual vertical track, the park's "Land of Awesomeness" and new precinct developments have filled the thematic void, focusing on high-tech, high-capacity rides rather than the high-maintenance, aging technology of the original 1997 shuttle coaster.