Shaftesbury Settlement is an unincorporated community in Alberta, Canada within the Municipal District of Peace No. 135 that is recognized as a designated place by Statistics Canada. It is located on the southeast side of Highway 684, 4 km (2.5 mi) south of Highway 2. It is adjacent to the Town of Peace River to the north on the west shore of the Peace River. The Shaftesbury Formation, a stratigraphic unit of the Western Canadian Sedimentary Basin was named for the settlement.