Paąžuolė is a village in , Varėna district municipality, Alytus County, southeastern Lithuania. According to the 2001 census, the village had a population of 25 people. At the 2011 census, the population was 13.
The village was likely established at the end of the 18th century after the massive forest cuts.
Between World War I and World War II, Rytas Elementary School was situated in the village.
Etymology The name Paąžuolė comes from the word ('oak tree') and means 'a place under/by oaks'. The village is mentioned as , in the earlier sources (with the same meaning, i. e. 'oaks, oak grove'), so it isn't clear Lithuanian or Slavic name is earlier.
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