Aguaje Canyon is a small stream canyon in southeastern Colorado's Las Animas County, named for the spring at its head, using the Spanish word aguaje. Beginning at its source, the stream drops only slightly, descending from about 5,445 feet to 5,351 feet by the time it reaches its mouth. There it flows into Chacuaco Creek within Chacuaco Canyon. That drainage then continues as part of the broader Purgatoire River system, linking this modest canyon stream to a larger regional watershed.