A Class II railroad, as defined by the American Association of Railroads, is a railroad with an annual operating revenue between $10 million (1978 dollars) and $50 million (1978 dollars). The term only applies to United States railroads, but is sometimes applied to other countries.

Current Class II railroads in operation in the United States are:

• Alaska Railroad (ARR)
• Chicago SouthShore and South Bend Railroad (CSS)
• Dakota, Minnesota and Eastern Railroad (DME)
• Elgin, Joliet and Eastern Railway (EJE)
• Florida East Coast Railway (FEC)
• Iowa, Chicago and Eastern Railroad (ICE)
• Indiana Harbor Belt Railroad (IHB)
• Montreal, Maine and Atlantic Railway (MMA)
• Providence and Worcester Railroad (PW)

See also

• Class I railroad
• Class III railroad