Villa Paranacito is a town in the southeast corner of the province of Entre Ríos, Argentina, head town of the Islas del Ibicuy Departament. It is located in the third section of the delta at the heart of the low-lying Ibicuy Islands in the Paraná Delta and is the administrative centre for the dispersed inhabitants of the islands and the delta's timber producers. Many of the town's inhabitants live on outlying islands, and several thousand more live across the whole group of islands.