Couderay is a village in Sawyer County, Wisconsin, United States, along the Couderay River. The population was 88 at the 2010 census. The village is located within the Town of Couderay.
Couderay is home to Al Capone’s northwoods hideaway, a tourist site called "The Hideout." The Hideout was purchased in the spring of 2010 by the Lac Courte Oreilles Indian Tribe after bankruptcy hearings for the previous owners.