Butternut is a village in Ashland County in the U.S. state of Wisconsin. The population was 375 at the 2010 census.
Butternut is located at 46°0′50″N 90°29′41″W (46.013958, -90.494614).
According to the United States Census Bureau, the village has a total area of 1.61 square miles (4.17 km2), all of it land.
As of the census of 2010, there were 375 people, 180 households, and 103 families living in the village. The population density was 232.9 inhabitants per square mile (89.9/km2). There were 214 housing units at an average density of 132.9 per square mile (51.3/km2). The racial makeup of the village was 94.1% White, 2.7% Native American, 0.3% from other races, and 2.9% from two or more races. Hispanic or Latino of any race were 1.1% of the population.
There were 180 households, of which 28.9% had children under the age of 18 living with them, 37.2% were married couples living together, 13.3% had a female householder with no husband present, 6.7% had a male householder with no wife present, and 42.8% were non-families. 38.9% of all households were made up of individuals, and 17.8% had someone living alone who was 65 years of age or older. The average household size was 2.08 and the average family size was 2.72.