Petra Maria Paulina Vaarakallio (born 17 June 1975 in Helsinki) is a Finnish retired ice hockey player and ringette player. She played on the women's ice hockey team for Finland at the 1998 Winter Olympics, and won a bronze medal. Vaarakallio scored the first-ever goal in women's ice hockey at the Olympics.
Vaarakallio won the 1992 World Ringette Championships bronze. She stopped playing ringette after receiving a six-month suspension for kicking an opponent who was lying on the ice.