Lila Bell Wallace (December 25, 1889, Virden, Manitoba, Canada – May 8, 1984, Mount Kisco, New York) was a United States magazine publisher.
Born as Lila Bell Acheson, her father was a Presbyterian minister who brought his family to the USA when she was a child, and she grew up in the Midwest. She graduated from the University of Oregon (1917), taught at schools for two years, and then worked for the Young Women's Christian Association.
In 1921 she married DeWitt Wallace, with whom she co-founded Reader's Digest; they published the first issue in 1922.
The Lila Wallace Reader's Digest Writers Award was endowed in her memory.
On January 28, 1972, Lila Bell Wallace was presented with the Presidential Medal of Freedom by President Richard Nixon.
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