Polyaenus of Macedonia was a Greek rhetorician and sophist of the 2nd century CE. His historical significance rests on his rivalry with the sophist Herodes Atticus, against whom he competed in a celebrated oratorical contest in Rome. This event, judged by the sophist Marcus Antonius Polemo, likely occurred during the reign of either Hadrian or Antoninus Pius. No further biographical details are recorded.

No specific works by Polyaenus are attested in the sources. While some metadata indicates he composed three works, their titles, subjects, and whether any fragments survive are unknown. His importance lies within the Second Sophistic movement. The documented contest with Herodes Atticus exemplifies the highly competitive and performative nature of sophistic oratory in the Roman imperial period, illustrating the cultural prestige such intellectuals could command. He is primarily cited in modern scholarship as a figure whose renown derives from a single, notable rivalry.