Lawrence Ronald "Larry" Costello (born July 2, 1931 in Minoa, New York) is a former pro basketball player. He was known as the NBAs last two-handed set shooter. After playing at Niagara University, he joined the Philadelphia Warriors in 1954. Two years later he was traded to the Syracuse Nationals. He ended his career in 1965 with the then Philadelphia 76ers, but eventually came back for the 1966/67 season after new head coach Alex Hannum told him he needed a veteran point guard. With 42 games into the season, Costello ripped his Achilles tendon on January 6, 1967 and was replaced by Wali Jones. Costello ended his career for the second and final time in 1968.

He took over as head coach of the expasion team Milwaukee Bucks in 1968 and lead them to the 1971 NBA championship. After a 3-15 start into the 1976/77 season, he was fired. In 1978/79 he also coached the Chicago Bulls for 56 games.