Theatre Royal Plymouth is a theatre venue in Plymouth, Devon. It consists of a large main auditorium, The Lyric, which regularly hosts large-scale musicals, opera and ballet; a 200-seat studio, The Drum; and a 50-seat studio, The Lab. On a separate site, Theatre Royal Plymouth also has a production and learning centre, TR2, featuring rehearsal studios and workshops for the production of set and costumes.
The theatre is a National Portfolio Organisation, receiving regular funding from Arts Council England.
A £7 million Regeneration Project was completed in September 2013 with a renovated front of house area and community performance space called The Lab.