To provide an elevator counterweight that is capable of simplifying an adjustment operation of a weight bottom clearance.

The counterweight 30 is connected to an end of a main rope 19 and moves along a weight guide rail 21 in the vertical direction. The counterweight 30 includes: an inner frame 31 to which one end of the main rope 19 is fixed and which holds a weight piece 33 in a frame; and an outer frame 32 in which a guide shoe 34 engaged with the weight guide rail 21 is installed and which is attached so as to be slidable in the vertical direction relative to the inner frame 31. The outer frame 32 can extend vertically downward below the lower end of the inner frame 31.