The Delaware and Hudson Railroad (D&H) was a Class I railroad in the north-eastern part of the United States. It was once the oldest transportation company in continuous operation in the United States, having been operated since 1823, when it was incorporated as the Delaware and Hudson Canal Company. It operated the first steam locomotive in the United States in 1829.

It was the only major railroad in the U.S. Northeast not to go bankrupt in the 1970s. When Conrail was created in 1976, the D&H was expanded and given trackage rights over most of the Conrail system. The railway was acquired by Guilford Transportation Industries in 1984, who found its trackage rights over Conrail to be attractive. The railway went bankrupt in 1988. It was sold to the Canadian Pacific Railway in 1991, who made it part of their St. Lawrence and Hudson subsidiary between 1996 and 2000.