Novy Karachay (; , Cangñ Qaraçay) is an urban locality (a settlement) in Karachayevsky District of the Karachay-Cherkess Republic, Russia. As of the 2010 Census, its population was 3,035.
It was established in 1909 and was originally called Vorontsovo-Karachayevsky (). Urban-type settlement status was granted to it in 1958.
Within the framework of administrative divisions, the settlement of Novy Karachay is subordinated to Karachayevsky District. As a municipal division, Novy Karachay is incorporated within Karachayevsky Municipal District as Novo-Karachayevskoye Urban Settlement.