Lip balm or lip salve is a substance topically applied to the lips of the mouth to relieve chapped or dry lips, angular cheilitis or stomatitis, and cold sores. Lip gloss is similar, but generally has only cosmetic properties.

The balm is usually manufactured from beeswax, petroleum jelly, menthol, camphor, scented oils, and various other ingredients. Some manufacturers also add vitamins, alum, salicylic acid, or aspirin. Most lip balms contain sunscreen, to minimize sun damage. Lip balm may come in small containers, where a finger is used to spread it on the lips, or in 'stick' form (similar to lipstick) which is applied directly to the lips.