| Wally McIlwain | |
| Birth Date: | 20 January 1903 |
| Birth Place: | Chicago, Illinois, U.S. |
| Death Place: | Evanston, Illinois, U.S. |
| Height Ft: | 5 |
| Height In: | 9 |
| Weight Lbs: | 173 |
| Position: | Wingback, halfback |
| College: | Illinois |
| Coachpfr: | McIlWa0 |
| Nfl: | 2520790 |
| Playing Years1: | 1926 |
| Playing Team1: | Racine Tornadoes |
| Coaching Years1: | 1926 |
| Coaching Team1: | Racine Tornadoes |
| Career Highlights: | |
Wallace Wesley McIlwain (January 20, 1903 - June 30, 1963) was an American football player and coach. He played professionally in the National Football League (NFL) for the Racine Tornadoes. In 1926, he was a player-coach for the Tornadoes. Prior to his professional career, McIlwain played college football at the University of Illinois, alongside Red Grange.