Chiltern Valley is a rural locality in north-east Victoria, 32 km north-east of Wangaratta and 7 km west of Chiltern. The shallow valley encloses the Black Dog Creek and has Box Ironbark forest to its north.
There were gold finds around Rutherglen, north-west of Chiltern Valley in the 1860s, but 20 years elapsed before the deep leads in Chiltern Valley were worked. Mine tailings can be seen along Chiltern Valley Road: Chiltern Valley No 1 mine was near Pitt Road and the No 2 mine was about 3 km further west.
A primary school was opened in 1887 and in 1898 was moved to the No 2 mine. The average attendance in its busiest year was 122 pupils. Chiltern Valley mines were worked for 40 years, the last being along Wallace Consols Road where the Wallace Chiltern Valley Consols mine was located. The school's attendance reduced until it was unstaffed in 1954.
The Victorian municipal directory recorded a school, a hotel and a post office (1897-1957) in 1911. Later directories (1930s-70s) also mentioned market gardens at Chiltern Valley.
Chiltern Valley's census populations have been: