Krasny Yar () is a rural locality (a selo) and the administrative center of Chapayevsky Selsoviet of Aleysky District, Altai Krai, Russia. The population was 510 as of 2016. There are 11 streets.
Krasny Yar is located on the left bank of the Aley River, 22 km southeast of Aleysk (the district's administrative centre) by road. Kashino is the nearest rural locality.
The village is inhabited by Russians and others.