Axayacatl was an Aztec ruler (Tlatoani) of the city of Tenochtitlán from 1469 to 1481.

He is chiefly remembered for subjugating Tlatelolco, Tenochtitlán's sister city, in 1473. Using as a pretext the insulting behavior of a few Tlatelolcan citizens, he invaded his neighbor, killed its ruler, and replaced him with a military governor. The Tlatelolcans lost any voice they had in forming Aztec policy.

He was preceded on the throne by Moctezuma I and followed by his brother Tízoc in 1481.