Elsa Ratassepp (March 7, 1893 – May 4, 1972), was an Estonian stage, radio and film actress whose career spanned over fifty years. Elsa Ratassepp was born in Raadi-Kruusamäe, a neighbourhood of Tartu.

She joined the Vanemuine theatre as an actress in 1916 and was later a founder and actress in the travelling Rändteater based in Tallinn. The Rändteater troupe lasted from 1926 until 1928. Ratassepp had a long stage career throughout the 1910s and into the late 1960s.