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Victory Bank is a wholly submerged atoll structure in the Northern Chagos Archipelago at . It is located 17 km NNW of Nelson Island, the only island on the Northern rim of the Great Chagos Bank. Île Boddam, of the Salomon Islands lies 17 km to the North.
This submerged atoll is roughly elliptical in shape, with a size of 6 km East-West and 4 km North-South, and an area of about 19 km². It rises steeply from great depths. The lagoon is up to 33 metres deep, while the depth along much of the rim is only 5.5 metres.
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