Rachel Lee (, earlier known as Loletta Lee) is a Hong Kong actress born on 8 January 1966.

She started playing small roles in Hong Kong movies in the 1980s. Her first role as main actress was in Devoted to You. She continued to play as young teenager in the 1980s until 1990.

Her performance in Ordinary Heroes earned her a Golden Horse Award in 1999 for Best Actress. She can be found today working in mainstream Hong Kong cinema.

In an interview with FHM, Lee revealed that her parents were Indonesian Chinese of Meixian ancestry.