Volkovo () is a rural locality (a selo) in Dubovskoye Rural Settlement, Yelansky District, Volgograd Oblast, Russia. The population was 287 as of 2010. There are 8 streets.
Volkovo is located on Khopyorsko-Buzulukskaya Plain, on the bank of the Yelan River, 15 km northwest of Yelan (the district's administrative centre) by road. Babinkino is the nearest rural locality.