Rancho Aguas Frias was a 26,761-acre (108.30 km2) Mexican land grant in present-day Butte County, California given in 1844 by Governor Manuel Micheltorena to Antonio Maria Osio and his son Salvador Osio. Aguas Frias means "cold water" in Spanish. The grant, located south of present-day Chico, extended along the west bank of Butte Creek, and was bounded on the west by Rancho Llano Seco. Rancho Esquon was directly across Butte Creek.