Markfield is a commuter village in both the National Forest and Charnwood Forest and in the Hinckley and Bosworth district of Leicestershire, England. The settlement dates back to at least the time of the Norman conquest and is mentioned in the Domesday Book under the name Merchenefeld. A variant of this is still used as the name for the village primary school, Mercenfeld. It is to the south-east of Junction 22 of the M1, and to the south of the A50. The highest point in Markfield is shown on OS sheet 129 at 222 metres above sea level. Nearby places are Newtown Linford, Groby, Field Head, and Stanton under Bardon. In the 1841 census its population was recorded at 1,203. In the 2011 census the parish had a population of 5681. Markfield is within the LE67 postcode district. In 2012 Hinckley & Bosworth Borough Council published an overview of Markfield conservation area.

Markfield is shown in the Domesday Book published in 1070 as having 2 small households. Ulf is shown as the lord of Markfield, Groby Blaby and Ratby in the hundred of Guthlaxton in Leicestershire in 1066. By 1086, the value had increased fivefold to £0.50 and the lord was Hugh of Grandmesnil who was also associated with the hundreds of Goscote, Guthlaxton and Gartree in Leicestershire.

Markfield has close links with the Methodist movement and according to a blue plaque on the church, its founder John Wesley paid 13 visits. He was allowed to preach in the parish church as he was friendly with the rector but crowds became so large, he would often preach on the village green. The parish church of St Michaels and all Angels is a grade II listed building. There are two other churches, Holy Trinity Methodist chapel and the Congregational church but the original Methodist chapel (temperance hall) is no longer used.

Markfield has a long association with the quarrying industry and has a particular type of granite, microdiorite named after it. The granite stone (microdiorite) 'Markfieldite' is a very hard granite found in the local area and used in roadstone and railway construction. The former headquarters of Aggregate Industries (now under the Holcim company) was in Markfield and in the last few years a major expansion of the Bardon Hill Quarry into the parish of Markfield has begun creating a large extension which will expand the life of Bardon for another 40 years.