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is a city in Grant County, South Dakota, along the South Fork of the Whetstone River. The population was 3,640 at the 2000 census. It is the county seat of Grant County.
According to the United States Census Bureau, the city has a total area of 2.7 square miles (7.1 km²), of which, 2.7 square miles (6.9 km²) of it is land and 0.1 square miles (0.2 km²) of it (2.56%) is water.
Milbank has been assigned the ZIP code range 57252-57253 and the FIPS place code 42260.