Paul Edmund McRae (20 October 1924 – 3 November 1992) was a Liberal party member of the Canadian House of Commons. He was born in Toronto, Ontario and became a school principal by career.
He represented Ontario's Fort William electoral district since winning that seat in the 1972 federal election. He was re-elected in 1974, 1979 and 1980. Due to riding boundary changes, McRae represented Thunder Bay—Atikokan since 1976.
McRae left national politics in 1984 and did not campaign in that year's federal election.