Ashaway () is an unincorporated village and census-designated place (CDP) in the town of Hopkinton, Rhode Island. It is a principal village of Hopkinton, along with Hope Valley, although it is the smaller of the two. The population was 1,485 at the 2010 census. The name Ashaway is derived from the American Indian name for the river that runs through the village, the Ashawague or Ashawaug, which means "land in the middle" or "land between" in the Niantic and Mohegan languages. The name "Ashawague River" appears as late as 1832 on the Findley map of Rhode Island published in Philadelphia.
Ashaway is located at 41°25′23″N 71°47′20″W (41.423004, -71.788839).
According to the United States Census Bureau, the CDP has a total area of 6.2 km2 (2.4 mi2). 6.2 km2 (2.4 mi2) of it is land and 0.1 km2 (0.04 mi2) of it (1.24%) is water.
As of the census of 2010, there were 1,485 people, 566 households, and 418 families residing in the CDP. The population density was 239.5/km2 (620.3/mi2). There were 617 housing units at an average density of 99.5/km2 (257.2/mi2). The racial makeup of the CDP was 94.14% White, 0.88% African American, 1.55% American Indian, 0.88% Asian, and 1.48% from two or more races.