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Silverado is an unincorporated community in Silverado Canyon, located in the Santa Ana Mountains in eastern Orange County, California. It sits on former Irvine Ranch land that was mined extensively for silver during the late 19th century. During Spanish rule, it was known by the name Canyon de la Madera (Timber Canyon). (The name Silverado is a type of Spanglish indicating a place where silver is found; a parallel formation to El Dorado.) It consists of only a few thousand residents, 1 store, 1 restaurant, a public library and a post office. A local landmark near Silverado is Cook's Corner, popular with bikers. During the Santiago Fire many firemen dined there. Silverado is split into two canyons: Modjeska Canyon and Santiago Canyon. The majority of Silverado is located within the boundaries of Cleveland National Forest.

Until October, 2007, there had never been a wildfire recorded in the canyon (where homes are) since records have been kept, though it was named as Southern California's highest risk area for wildfires. On October 26, 2007, the Orange County Fire Authority issued a mandatory evacuation of the area due to the Santiago Fire. Silverado has been a problem area for rockslides as well.

In 2004, a teenage girl was killed in her home, which was part of the Shadybrook Market, when a massive boulder broke loose during heavy rains and rolled through her bedroom.

Today new homes and developments from nearby urban areas are encroaching on the canyons. The largest proposed projects are by The Irvine Company, which plans to build two developments stretching along Santiago Canyon Road from Jamboree Road past Irvine Lake. The first, situated on both sides of the 241 toll road, will consist of 1,746 homes on 496 acres (2.0 km). The second development, overlooking Irvine Lake, will add 2,400 more homes on 1,000 acres (4 km).