Air–fuel ratio (AFR) is the mass ratio of air to a solid, liquid, or gaseous fuel present in a combustion process. The combustion may take place in a controlled manner such as in an internal combustion engine or industrial furnace, or may result in an explosion (e.g., a dust explosion, gas or vapor explosion or in a thermobaric weapon).

The air–fuel ratio determines whether a mixture is combustible at all, how much energy is being released, and how much unwanted pollutants are produced in the reaction. Typically a range of fuel to air ratios exists, outside of which ignition will not occur. These are known as the lower and upper explosive limits.

In an internal combustion engine or industrial furnace, the air–fuel ratio is an important measure for anti-pollution and performance-tuning reasons. If exactly enough air is provided to completely burn all of the fuel, the ratio is known as the stoichiometric mixture, often abbreviated to stoich. Ratios lower than stoichiometric are considered "rich". Rich mixtures are less efficient, but may produce more power and burn cooler. Ratios higher than stoichiometric are considered "lean". Lean mixtures are more efficient but may cause higher temperatures, which can lead to the formation of nitrogen oxides. Some engines are designed with features to allow lean-burn. For precise air–fuel ratio calculations, the oxygen content of combustion air should be specified because of different air density due to different altitude or intake air temperature, possible dilution by ambient water vapor, or enrichment by oxygen additions.