Chase the Dragon is the third studio album by English rock band Magnum. It was released in 1982. Overseen by the Kansas producer Jeff Glixman, the album was recorded over 13 days at Town House Studios in London, and the following year Tony Clarkin flew to Axis Studios in Atlanta to mix it. Many of the tracks have remained in Magnum's live set for many years, including "Soldier of the Line", "The Spirit" and "Sacred Hour".

Chase the Dragon was eventually released in February 1982, two years after the recording sessions, reaching the Top 20 in the UK charts, peaking at #17. "The Lights Burned Out" was released as a single, followed by an EP in September 1982 with two new studio songs "Back to Earth" and "Hold Back Your Love" (which can be found on this re-issue). It should also be noted as the first Magnum album with Rodney Matthews' artwork.

Chase The Dragon is available as a limited edition of 1000 individually numbered copies on turquoise coloured vinyl.[info sheet from distr.]