Prospect is a census designated place (CDP) in French Lick Township, Orange County, in the U.S. state of Indiana.
The community's original name was New Prospect. New Prospect was laid out in 1836.
A post office was established under the name New Prospect in 1851, but was soon discontinued, in 1853.
The United States Census Bureau defined Prospect as a census designated place in the 2022 American Community Survey.