Álvaro Augusto Velasco Alzate (born March 3, 1971) is a retired male weightlifter from Colombia, who thrice won a medal for his native South American country at the Pan American Games: in 1991, 1995 and 1999.
He twice competed at the Summer Olympics (1992 and 1996), finishing in 12th place in the men's middleweight division in Atlanta, Georgia (1996).