Valevatn is a lake in the municipality of Sirdal in Agder county, Norway. The 6.97-square-kilometre (2.69 sq mi) lake lies just north of the lake Gravatnet and a short distance west of the village of Kvæven. There are two dams on the east side of the L-shaped lake. The lake drains into the lake Gravatnet and the river Sira which runs just east of the lake.