Bhalerao () is a Marathi surname. Notable people with the name include:
Parth Bhalerao, Indian actor Renuka Das Bhalerao, Indian general, a member of noble Rai Rayan family and the prime minister of Hyderabad Shamraj Bhalerao, Indian member of noble Rai Rayan family and Public Works Department member of His Exalted Highness Nizam's Executive Council Rajaram Amrut Bhalerao, Indian doctor, professor, and patron of Marathi language theatre and Marathi literature.