The Palace Theatre is a multi-purpose entertainment arena complex in Green Street, Kilmarnock, Scotland. The venue is currently owned by East Ayrshire Council, with operation of the theatre and adjoining Grand Hall being the responsibility of the executive council body, East Ayrshire Leisure. Since its original opening in 1863, the building has gone through various renovations and usage changes, most notably in 1951, when it re–opened as the Exchange Theatre. Additional renovations to the building occurred in 1982, and currently, between 2023–2025 as part of the Cultural Kilmarnock Project.